Cargill completes transaction to acquire Southern States Cooperative, Inc.'s animal feed business
MINNEAPOLIS, Sept. 25, 2017 - Cargill has closed on its agreement to acquire the animal feed business of Southern States Cooperative, Inc. The deal was announced in early August and closed on September 22.
Under the agreement, Cargill purchased the assets of Southern States Cooperative's animal feed business, including seven feed mills and its portfolio of products, brands and customer and supplier relationships. The other segments of Southern States Cooperative's business – retail, farm supply, energy, and agronomy – are not part of the transaction.
"The combination of CFN U.S. and Southern States Cooperative's animal feed business will help us grow with customers and best meet their ever-changing needs," said Mark Lueking, U.S. managing director, Cargill Feed and Nutrition. "We are excited about this growth opportunity to further demonstrate our commitment to the U.S. animal feed industry."
The acquisition strengthens Cargill's distribution and go-to-market capabilities in the Southeast, Mid-Atlantic and Northeast regions of the U.S., and provides a pathway for continued growth across the region. In addition to the acquisition, Cargill has completed a long-term supply agreement with Southern States for Cargill to supply its retail stores with Southern States branded feed.
"We believe that our combined business will provide unique benefits to our members and customers," said Jeff Stroburg, President and CEO of Southern States Cooperative, Inc. "We've brought together two best-in-class feed companies to develop solutions to meet their needs. We look forward to growing the Southern States feed business with Cargill as our partner."
Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and 150 years of experience. We have 150,000 employees in 70 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work. For more information, visit Cargill.com and our News Center.
About Cargill Animal Nutrition
Cargill’s animal nutrition business has more than 20,000 employees at more than 275 facilities in 40 countries. Fueled by our innovation and research, we offer a range of products and services to feed manufacturers, animal producers, and feed retailers around the world, helping put food on the plates of nearly one billion people around the world every day. Cargill’s animal nutrition business offers a range of compound feed, premixes, feed additives, supply chain and risk management solutions, software tools and animal nutrition expertise that is unmatched in the industry. For more information about Cargill Animal Nutrition, visit: http://cargill.com/animal-nutrition.
About Southern States Cooperative
Southern States Cooperative is a Richmond, Virginia-based farm supply retailer and service cooperative. As one of the nation's largest agricultural cooperatives, it provides a wide range of farm inputs, including fertilizer, seed, livestock feed, pet food, animal health supplies, and petroleum products, as well as other items for the farm and home. Founded in 1923, the cooperative is owned by more than 200,000 farmer-members, and serves its members and non-member customers through 1,200 retail outlets in 23 states.
Tim Loesch, Cargill, 612-860-6022, [email protected]
Chris Carter, Southern States Cooperative, [email protected], 804-281-1484
Steve Patterson, Southern States Cooperative, [email protected], 804-281-1695