Winnipeg, MB, November 21, 2016 – Ag Growth International Inc. (TSX: AFN) (“AGI” or the “Company”) today confirms it has closed its previously announced acquisition of Yargus Manufacturing, Inc. (“Yargus”). Based in Marshall, Illinois, Yargus is a manufacturer of material handling equipment used primarily in commercial fertilizer applications. Yargus is recognized for its custom design and manufacturing expertise, and its product offering, sold under the brand name Layco, includes tower blender systems, batch blending systems, control systems, in-plant receiving, automated coating systems, conditioners/delumpers, performance mixers, declining weight/volumetric blend systems, and conveyor systems.
The acquisition of Yargus substantially expands AGI’s North American fertilizer handling platform, both geographically and in terms of service offering. Yargus has a substantial presence in the U.S., as well as a growing international presence, both of which are highly complementary to AGI’s current material handling footprint. Yargus has recently made substantial investments in plant, equipment, senior personnel, and product development, and when combined with AGI’s existing divisions, will be very well positioned to compete in both local and international markets.
Ag Growth International Inc. is a leading manufacturer of portable and stationary grain handling, storage and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment and grain drying systems. AGI has manufacturing facilities in Canada, the United States, Italy, Brazil and the United Kingdom, and distributes its products globally.