AP Holding Corp., Denver, said Jan. 15 that its subsidiary, UAP Distribution Inc., has entered into a definitive agreement with Boettcher Enterprises, Beloit, Kan., to acquire certain assets of its retail distribution business, including real property, retail locations, equipment, and storage tanks. This agreement is subject to customary closing conditions.
Boettcher is a leading retailer of agricultural inputs, with multiple locations in Kansas and Nebraska. It has some 33 locations in the two states, with most being in Kansas (see www.boettcherenterprises.com). UAP said that in this two-state region, the acquisition will further its strategy to expand retail market share. UAP said Boettcher has had a long-standing wholesale relationship with UAP and has been one of its largest wholesale customers in the area. The acquisition is expected to close in UAP’s fiscal fourth quarter, which closes in February 2007.
“The acquisition of Boettcher Enterprises’ distribution business greatly enhances UAP’s presence in this key mid-western market,” said Kenny Cordell, UAP Holding Corp.’s chairman, president, and CEO. “The expansion of our retail distribution through a quality organization such as Boettcher Enterprises is truly a great opportunity.”
UAP had not returned calls at press time. The company has announced a spate of new acquisitions in the past few weeks (GM Jan. 15, p. 10; Jan. 8, p. 1), as well as other major ones in 2006 (GM Archives).