Canadian Company to Acquire Brownsburg’s CommoditAg
(photo courtesy of Farmers Edge Inc.)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowManitoba-based digital agriculture company Farmers Edge Inc. says it will acquire CommoditAg in Brownsburg, an online marketplace for agriculture products. The company says the acquisition will allow it to significantly expand its services by allowing farmers to purchase a wide range of products.
Under the terms of the deal, CommoditAg will function as a wholly-owned subsidiary of Farmers Edge led by the existing CommoditAg leadership team. The deal is expected to close in the next week.
“We are thrilled to join a company that shares our vision and mission,” said John Demerly, CommoditAg chief executive officer. “Farmers Edge brings together all parties in the supply chain to the digital ecosystem, so farmers get seamless, transparent, and secure connections to their vendors and trusted advisors. We look forward to growing together, bringing new digital capabilities to the market, and driving innovation that supports our customers’ success.”
CommoditAg currently has 14 retail distribution partners with over 500 locations servicing 170,000 customers. Its portfolio includes more than 200 brands and products from more than 25 suppliers.
“As a farmer myself, I know how important relationships with vendors are in the agriculture business,” said Wade Barnes, Farmers Edge chief executive officer and founder. “CommoditAg is a trusted marketplace that thousands of farmers rely on every day, and we are incredibly excited to welcome them to the Farmers Edge family. By combining its robust e-commerce solution with the FarmCommand platform, we can deliver a best-in-class omnichannel experience, bring more value to our customers, reach a wider footprint, and accelerate Farmers Edge growth.”
Financial terms of the deal were not disclosed.