CHS sells stake in Bridgeland input venture to UFA

On the heels of its move to sell its wholly-owned crop input stores in Alberta and Saskatchewan, U.S. ag co-operative CHS is selling its remaining Alberta ag retail asset.

Alberta farmer co-op UFA (United Farmers of Alberta) announced Tuesday it’s buying CHS’s interest in the two firms’ joint ag retail venture, Bridgeland Limited Partnership, for an undisclosed sum.

Bridgeland was set up in late 2015 in what the two companies described as “a competitive crop input value proposition to UFA and CHS members and customers” in the Peace region of northwestern Alberta.

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“After almost two years of building a strong and collaborative relationship for the benefit of our customers, both organizations have mutually decided to enter into this transaction.”

Once the deal closes, UFA will fully own and operate Bridgeland’s assets at LaCrete, Sexsmith, Baytree, Fairview, Falher, Eaglesham and Grande Prairie and rebrand them under the UFA banner over the next month.

The sites will continue to offer crop inputs such as seed, chemicals and fertilizers, grain storage and handling equipment and livestock inputs, and will retain all Bridgeland staff as UFA employees, the Alberta co-op said.

“Complete ownership of these assets and sites allows us to realign that business back to the UFA brand — a brand that our membership and customers know and trust,” UFA CEO Carol Kitchen said in a release Tuesday.

The move, she said, “reinforces UFA’s commitment to its core business and to its members and customers in one of our most important geographies.”

Winnipeg grain company Richardson International also announced a deal for CHS assets Tuesday, buying the St. Paul, Minn.-based co-operative’s 10 wholly-owned crop input retail sites in Alberta and Saskatchewan for an undisclosed sum.

Of the Richardson deal, a CHS representative said via email late Tuesday that the co-operative is “grateful to the growers and employees who have been loyal to its Canadian retail business” and it was “with their best, long-term interests in mind that we pursued this agreement.” — AGCanada.com Network

 

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