Manitoba digital agriculture company Farmers Edge Inc. announces that it will acquire CommoditAg in Brownsburg, an online marketplace for agricultural 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 agreement, CommoditAg will operate as a wholly owned subsidiary of Farmers Edge led by the existing management team of CommoditAg. The deal is expected to be finalized next week.
âWe are thrilled to join a company that shares our vision and our mission,â said John Demerly, CEO of CommoditAg. âFarmers Edge brings all parts of the supply chain together with the digital ecosystem, so farmers get seamless, transparent and secure connections with their trusted suppliers and advisers. We look forward to growing together, bringing new digital capabilities to the market and driving the innovation that supports the success of our customers.
CommoditAg currently has 14 retail distribution partners with over 500 locations serving 170,000 customers. Its portfolio includes more than 200 brands and products from more than 25 suppliers.
âAs a farmer myself, I know how important supplier relationships are in the agriculture industry,â said Wade Barnes, president and CEO and founder of Farmers Edge. âCommoditAg is a trusted market that thousands of farmers rely on every day, and we are extremely happy 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, deliver more value to our customers, achieve a larger footprint, and accelerate the growth of Farmers Edge. “
Financial terms of the deal were not disclosed.