The new JV entity, GreenPoint AG, is expected to have more than $1bn in sales from the 99 retail and wholesale agronomy locations across several states in the US
Agri-AFC, GreenPoint AG, and Tennessee Farmers Cooperative’s wholesale agronomy business have agreed to form a joint venture to combine their agronomy operations.
The new joint venture, which will operate under the name GreenPoint AG, will include all the operations of Agri-AFC’s wholesale and retail business, GreenPoint AG’s retail business, and Tennessee Farmers Cooperative’s wholesale agronomy business.
The joint venture will be owned by Alabama Farmers Cooperative (AFC), Tennessee Farmers Cooperative (TFC) and WinField United.
The new entity is expected to become a top 7 wholesale and retail agronomy company with more than $1bn in sales.
It will operate 99 retail and wholesale agronomy locations across the states of Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, Tennessee, and Texas, servicing 11 crops spread across 28 million acres.
Tennessee Farmers Cooperative CEO Bart Krisle said: “We recognise the rich history of our companies and the pride of ownership that exists amongst our member-owners, and we want to enter this relationship with careful thought and consideration of the impact to our farmer-owners, our customers, our member co-ops and our employees.”
GreenPoint AG will be headquartered in Decatur, Alabama
The new joint venture, GreenPoint AG, will be headquartered in Decatur, Alabama, with regional offices in Memphis and LaVergne, Tennessee.
Alabama Farmers Cooperative CEO Rivers Myres said: “Even though we are all individually strong, it takes vision and strategic leadership to both remain competitive and to provide exceptional service to our ultimate customer, the American Farmer, and GreenPoint AG will allow for us to do both.”
The JV had appointed Jeff Blair as its CEO, who was previously Plant Nutrient Group’s president. Prior to the role, he held leadership roles at Intrepid Potash, Orica Mining Services and was a Captain in the US Army.
Blair said: “I could not be more excited for this opportunity. The leadership teams of all three companies have built strong businesses and I believe this new company is the right company, with the right people and the right strategy to help our farmer and retail members succeed in this ever-changing world.”