This majority block of shares was previously held by a specialized institutional investor from Western Canada. “The beauty of this strategic shift lies in the birth of a tenfold strength in research and development (R&D), whose technological spin-offs can only benefit the customers of both companies,” said Stéphane Beaucage of Agro-100 and Pierre Migner of Axter Agroscience.
Mr. Migner indicated that the two entities will retain their autonomy and full independence, and that all Axter employees will keep their jobs. The executives proudly added that this transaction would have a significant impact in several respects, particularly on the potential for job growth in the short, medium and long term.
“In a context of growth and the pursuit of food self-sufficiency in Quebec, as everywhere else in Canada, this transaction became a natural option for our companies, founded in 1990 and 1982 respectively, which will now stand even more firmly among the major players,” said Mr. Beaucage.
New market opportunities will open up for Agro-100 and Axter Agroscience. The two executives even believe that this natural partnership will foster the emergence of a new niche marketing force.
“This new situation will allow us to develop very strong synergy and efficiency, while giving us better two-way access to different markets,” Mr. Migner continued.
The amount of the transaction was not disclosed. It includes the Herbu and Urbanature brands marketed by Axter, which advocate win-win solutions thanks to a stronger presence and the pooling of leading scientific partners in research & development.
Together, Agro-100 and Axter Agroscience will be better able than ever to work independently, each on its own side, toward an ever greener agricultural future, even exceeding the expectations of crop producers in terms of increased yields and crop quality, in field crops as well as in vegetable, fruit and potato crops, across the agriculturally dense regions of North America.
January 25, 2021
Source: L’Action, January 25, 2021 (in French).
