The Andersons Inc., Maumee, Ohio, announced on Aug. 6 that it has reached an agreement to sell the agronomy assets of Thompsons Ltd., a wholly-owned subsidiary in Ontario, to Sylvite Holdings Inc., Burlington, Ont. The sale is expected to close in September 2019. The Andersons will continue to own and operate Thompsons’ grain storage and food processing facilities in Ontario.
On Aug. 7, Corey Jorgenson, President, Assets and Organizations of The Andersons Trade Group segment, sent a letter to Thompsons agronomy customers informing them of the deal.
“Thompsons and Sylvite have been working together now for over 35 years, and this collaboration is a great opportunity to have a larger retail network to benefit you, our customer,” he said. “We believe this new relationship is beneficial to all our stakeholders, especially our customers. Our two companies share the same values and a strong commitment to serving Ontario farmers. We look forward to working together at our shared locations to provide the best possible service to our customers. Sylvite will focus on growing in agronomy products and services.”
Jorgenson noted that final details of the agreement are still being finalized by Sylvite and The Andersons. The sale is expected to close in early- to mid-September. He said the goal is to make this a seamless transition and maintain normal business operations.
Noting that the deal is not yet final, The Andersons said it would provide more details once it has closed. In the meantime, the Thompsons website indicates that the company’s Agronomy Solutions segment is a full-service ag retailer, supplying nutrients, crop protection, seed, and precision ag. It lists some 11 locations in Ontario.
According to its website, Sylvite operates an independent full-service agricultural retail business in Ontario. In addition, it said it is the largest Canadian-owned, independent wholesaler of farm fertilizer in Ontario and eastern Canada, adding that its integrated network includes over 300 service-oriented people, extensive warehousing services, trucking, and agricultural supply.