Farmers Edge announced today that it has reached an agreement to acquire CommoditAg, an online marketplace for high-quality agriculture products.
The acquisition 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, says the company.
Under the terms of the deal, expected to close over the next several days, CommoditAg will function as a wholly owned subsidiary of Farmers Edge led by their existing leadership team.
Founded in 2017, CommoditAg combines digital technology and e-commerce capabilities with agriculture knowledge. The company currently has 14 retail distribution partners, with over 500 locations, servicing 170,000 customers, representing a 70-million-acre footprint. The company offers a broad portfolio with more than 200 brands and products from more than 25 suppliers, including crop protection, seed, fertilizer, micronutrients, biologicals, agricultural lubricants, animal nutrition, and more.
CommoditAg currently has over 40 local fulfillment centres in 13 states with plans to expand its footprint to over 75 per cent coverage of the US business by the end of 2021.
“We are thrilled to join a company that shares our vision and mission,” says John Demerly, CEO of CommoditAg. “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.”
CEO and founder of Farmers Edge Wade Barnes says “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.”
Farmers Edge says 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.