SK CO-OPS EXPANDING AG BUSINESS THROUGH ACQUISITION OF PARAGON AG SERVICES
Melfort, Sask. (Feb. 15, 2022) – Two Saskatchewan Co-ops are expanding service to farm customers with the acquisition of Paragon Ag Service, Ltd. (Paragon). Lake Country Co-op and Prairie North Co-op have entered into agreements to purchase Paragon’s three Saskatchewan retail ag sites and two anhydrous ammonia locations. This will strengthen these local Co-ops by growing their footprint and adding dry fertilizer and anhydrous ammonia assets to their businesses.
“Prairie North Co-op has made strategic investments to grow our ag business over the past year,” said Terry Tremblay, General Manager of Prairie North Co-op. “The addition of these assets will significantly increase our anhydrous ammonia business and enable us to even better serve the needs of our ag customers.”
The terms of this acquisition will have Prairie North Co-op acquiring the Melfort and Brooksby sites and Lake Country Co-op acquiring the Kinistino location and an anhydrous ammonia site near Gronlid, north of highway 335.
“We are excited for this opportunity to grow our ag footprint and contribute to the long-term sustainability of our business” said Tim Keller, Lake Country Co-op CEO. “Making investments in our communities and creating value for our members and customers is at the core of who we are as a Co-op.”
For over 20 years, Paragon has provided service and expertise in crop protection, dry fertilizer and anhydrous ammonia for local farmers.
“Finding a partner who shares our values and could keep our business local was important to us,” said Sherman Boland, Co-owner of Paragon Ag Services Ltd. “Each of these Co-ops are part of the communities we serve, so they understand the needs of local farmers and we’re confident our customers will continue to receive the same great service as we make this transition.”
Prairie North and Lake Country Co-ops are working with Paragon owners Sherman Boland and Don Nash to ensure a smooth transition for employees and customers. Paragon’s full-time employees will all be offered similar employment with the local Co-ops, which will continue to deliver fertilizer, seed and crop protection services to customers in the local area. The transaction is subject to customary closing conditions and is expected to close in mid-February. Financial terms of the transaction will not be publicly disclosed.
About Prairie North Co-op
Prairie North Co-op operates out of 18 locations – from St. Brieux, Spalding and Naicam in the west; to Melfort in the north; and Archerwill and Kelvington in the east. We serve our members with products and services that help build, feed, fuel and grow the communities in which we live and do business.
Prairie North Co-op employs 292 and serves 12,426 members. We continue the tradition of giving back, not only in patronage refunds to our members, but also through financial support to several local organizations. In 2021, sponsorship and donations totaled almost $126,200 to 154 different organizations in our trading area. Locally invested. Community-minded. Lifetime membership benefits. We are Co-op.
About Lake Country Co-op
Lake Country Co-op provides an exceptional experience to over 50,000 members and even more customers to enhance the success and vibrancy of our 18 communities through our 58 separate locations – from La Ronge in the north; to Nipawin in the east; Wakaw to the south; and Spiritwood to the west. These locations include diverse retail offerings and services in the areas of Agro, Food, Home and Building Solutions, Liquor, Petroleum, Pharmacy, and commercial rental units.
Lake Country Co-op employs over 1,000 individuals. We continue the tradition of giving back, not only in patronage refunds to our members, but also through community support to serval local organizations. In 2021, sponsorship and donations totaled over $500,000 to a variety of different organizations in our trading area.
About Paragon Ag Services Ltd.
Paragon Ag Services Ltd. Is an Independent Ag Retail operating in the Crop Inputs industry since 1999 in the Melfort region. With current operations in Melfort, Kinistino and Brooksby, Paragon Ag offers a full complement of products and services in crop protection, canola seed, dry fertilizer, anhydrous ammonia and agronomic expertise.
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Prairie North Co-op