LOVELAND, Colo., Aug. 26, 2014 /PRNewswire/
-- Loveland Products, a subsidiary of
Agrium and a leading global provider of high-performance crop input
products and proprietary products provider for Agrium Retail
globally, today announced that the company has acquired a
controlling interest in Agricen, a Dallas-area agricultural biotechnology company
delivering biochemical-based products for efficient and sustainable
plant nutrition. Agricen manufactures two of Loveland Products'
fastest growing plant nutrition brands, Accomplish® LM
and Titan® PBA, which are biologically derived products
designed to enhance fertilizer efficiency. Agricen will operate as
a Loveland Products subsidiary under its present name. Loveland
Products has also acquired an interest in Agricen's sister company,
Agricen Sciences, an applied sciences research company developing
novel microbial and biochemical solutions for plant health and
nutrition.
"These strategic investments are the initial steps in the
extension of our long-term strategy for the discovery and
commercialization of next-generation technologies that enhance
plant health and improve crop productivity," said Brent Smith, Vice President, Loveland Products. "We have a long history of
working with Agricen and Agricen Sciences, so this is a natural
place to begin a new, concerted effort to deliver innovative and
sustainable plant health technologies that complement conventional
growing practices around the world."
Under the terms of the agreement, Mr. Smith will take on the
role of Chairman of the Board of Agricen, and will serve on the
Board of Agricen Sciences. Jeff Tarsi, Vice President of Strategy
and International Retail for Crop Production Services will also
join the Agricen Board. Loveland Products is the proprietary
products provider for all of Agrium Retail in North America, Australia and South
America, including Crop Production Services. Financial terms
of the deals were not disclosed.
"By combining Loveland Products' extensive reach in the
agriculture industry with Agricen's and Agricen Sciences' history
in agricultural biologicals, we have a significant opportunity to
create value for growers with next-generation agricultural tools
that complement and enhance existing plant nutrition practices,"
said Michael Totora, President and
CEO of Agricen.
Loveland Products provides innovative input solutions to growers
across more than 40 countries and is a part of publicly traded
Agrium Inc. (TSX and NYSE: AGU), a global crop input and
agricultural services provider. Loveland Products and Agricen (then
Advanced Microbial Solutions) had previously entered a strategic
partnership agreement in 2012, which gave Loveland an ownership
position in Agricen, as well as exclusive, worldwide distribution
rights to existing Agricen technology and access to an integrated
pipeline of new product and technology opportunities.
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About Loveland Products, Inc.
Loveland Products, Inc. offers a complete line of
high-performance input products to the global agricultural and
professional non-crop industries. Loveland Products' diversified
portfolio of premium products consists of seed treatment, plant
nutrition, fertilizer, adjuvant and crop protection products, which
are available through Agrium Retail in North America, South
America and Australia, and
through distribution partners in over 40 countries globally.
Loveland Products strives to bring new, unique products and
technologies to the marketplace to provide innovative solutions to
problems across the agricultural and professional non-crop
industries. For more information, please visit
www.lovelandproducts.com.
About Agricen
Agricen, a Loveland Products Company, is an agricultural
technology company delivering innovative biochemical-based
solutions and products for efficient and sustainable plant
nutrition. Agricen helps growers adapt to the rapidly changing
demands of modern agriculture by providing the most effective tools
to increase nutrient availability and uptake, improve
sustainability and increase yields. Agricen's biochemical
technology has been tested – and proven – in over 600 field and
greenhouse studies conducted by the company, universities, the USDA
and other third-party evaluators. For more information, please
visit www.agricen.com or follow us on Facebook, Twitter, LinkedIn
or Pinterest.
About Agricen Sciences
Agricen Sciences is an applied sciences research company leading
the development of novel microbial and biochemical solutions for
plant nutrition and health. The company's cutting-edge research
programs on soil-plant systems are yielding new insights for crop
nutrition, soil science and nutrient management. By applying this
knowledge, Agricen Sciences is developing innovative solutions to
address the sustainability and production challenges facing modern
agriculture. For more information, please visit
www.agricensciences.com.
About Agrium
Agrium Inc. is a major Retail supplier of agricultural products
and services in North America,
South America and Australia and a leading global Wholesale
producer and marketer of all three major agricultural nutrients and
the premier supplier of specialty fertilizers in North America. Agrium's strategy is to provide
the crop inputs and services needed to feed a growing world. We
focus on maximizing shareholder returns by driving continuous
improvements to our base businesses, pursuing value-added growth
opportunities across the crop input value chain and returning
capital to shareholders.
Accomplish® and Titan® are registered
trademarks of Loveland Products, Inc.
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SOURCE Loveland Products