DynAgra Corp., independent agricultural retailer headquartered in Western Canada, and CHS Inc. (NASDAQ-NMS: CHSCP), leading U.S.-based farmer-owned cooperative, will combine agricultural services to producers and consumers within the Alberta Province trade territory now served by DynAgra. Effective in September 2012, this marks the first Canadian-based company to join the Country Operations division of CHS. The agreement will be finalized in late September after appropriate due diligence is complete.
CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. With more than 30 years in the agriculture retail business, DynAgra offers innovative solutions that meet both the economic and agronomic needs of today's farmers. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
"The flood gates of possibilities -- new products, new markets and new perspectives -- have opened for us by joining CHS," said Tasha Schmaltz, general manager, DynAgra. "To have a company enter the Canadian market that is as focused on the customer's success as we are is extremely exciting for the DynAgra staff and for our loyal customers. I can only imagine what we will bring next to the marketplace."
Customers of DynAgra should expect a smooth transition, including continuity of staffing at all its locations; Tasha Schmaltz will continue his leadership role as general manager. The business will operate under the name CHS DynAgra through CHS Country Operations Canada, Inc., a wholly owned subsidiary of CHS Inc. This subsidiary will be managed and operated out of the Country Operations division of CHS Inc.
CHS Inc. (CHSCP) has trended higher since early 2009, falling slightly this morning on light volume, trading presently at $31.80, up $3.81 over a year ago's $27.99.