The J. R. Simplot Co. has entered into a purchase agreement, subject to standard conditions to closing, to acquire a warehousing and storage facility in Chin, Alberta, Canada from Ben and Donna Walter Farms Ltd. This facility includes dry storage for plant nutrients, and will be part of the J. R. Simplot Co.’s AgriBusiness Division distribution system.
“Investing in strategic opportunities that align with our core and long-term phosphate position is critical. The Chin facility is a first class operation that provides us the capacity to meet our initial objectives around growth in Western Canada,” said Garrett Lofto, president of Simplot’s AgriBusiness group.
The Chin Warehouse is currently being used as a contract storage facility by Simplot. Simplot said it is very committed to customers in this area, and now has the opportunity to solidify a strong foundation for growth in the region. “We have a strong customer base in Western Canada, and this acquisition will allow us to better serve existing as well as new customers into the future,” said Mark Auchampach, vice president of Simplot’s Wholesale agriculture operations.
The transition with the proposed transaction will be fairly quick. Simplot intends to extend offers of employment to most of the existing employees, and the operations side will begin the changeover upon closing.
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