WINNIPEG, Manitoba--(BUSINESS WIRE)--Farmers Edge Inc. (“Farmers Edge” or the “Company”) (TSX: FDGE), a pure-play digital agriculture company, today announced that it has reached an agreement to acquire CommoditAg, the industry’s premier trusted online marketplace for high-quality agriculture products. This will allow Farmers Edge to significantly expand its roster of services by empowering farmers to purchase a wide range of agricultural products from trusted suppliers, while also advancing the company’s connected digital ecosystem strategy. 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 over the next several business days.
Founded in 2017, CommoditAg combines the efficiency and convenience of digital technology and e-commerce capabilities with deep-rooted agriculture knowledge. Providing farmers and ranchers with a top-notch customer experience and outstanding value, the company currently has 14 retail distribution partners with over 500 locations servicing 170,000 customers representing a 70-million-acre footprint. Offering a broad portfolio of more than 200 brands and products from more than 25 suppliers, its category selection includes crop protection, seed, fertilizer, micronutrients/biologicals, agricultural lubricants, animal nutrition, and more. CommoditAg currently has over 40 local fulfillment centers covering 13 states and plans to expand its footprint to over 75% coverage of the US business by the end of 2021.
The acquisition builds on continued investment by Farmers Edge in establishing strong digital connectivity between farmers and their trusted advisors while meeting the rising demand for complete integration, transparency, and personalized experience. By combining the deep industry expertise and local knowledge of the most progressive retail companies in the US with Farmers Edge field-centric data powered by AI and machine learning technology growers will experience a new level of insights and decision support.
“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.”
“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.”
The marketplace will create new value for growers and partners by offering innovative risk management, grain marketing, and sustainability products, such as carbon offsets, customized for their operations.
Connect with a Farmers Edge expert today to see how the company’s digital ecosystem can benefit your business. Visit FarmersEdge.ca/CommoditAg or call 515-505-0413 to learn more and book a meeting.
About Farmers Edge
Farmers Edge is leading the next agricultural revolution with the industry’s broadest portfolio of proprietary technological innovations, spanning hardware, software, and services. Powered by a unique combination of connected field sensors, artificial intelligence, big data analytics, and agronomic expertise, the company’s digital platform turns data into actions and intelligent insights, delivering value to all stakeholders of the agricultural ecosystem. Farmers Edge disruptive technologies accelerate digital transformation on the farm and beyond, protecting our global resources and ensuring sustainable food production for a rapidly growing population. For more information, please visit www.farmersedge.ca and SEDAR (www.sedar.com).