La Coop fédérée, headquartered in Montreal, Quebec, has entered into a joint venture partnership with Tilbury, Ontario-based Maizex Seeds.
The partnership will have a broad, national presence, the companies say. Maizex produces and markets seed corn and seed soybeans, while La Coop fédérée produces and markets seed for corn, soybeans, cereals, and forages under its Elite brand.
Maizex and La Coop say they will be working together over the coming months to launch “a comprehensive market strategy to provide full product access and support to farmers across the country.”
“La Coop fédérée is the ideal partner for Maizex, not only given their ownership and shared values, but also their shared vision to invest in the scale and scope of seed business needed to service Canadian farmers across this great nation well into the future,” says Dave Baute, president and CEO of Maizex Seeds, in a news release published on Wednesday.
La Coop fédérée is the largest agri-food enterprise in Quebec with more than 120,000 members, agricultural producers, and consumers grouped into nearly 70 cooperatives, with operations spread out in many Canadian provinces. La Coop and its affiliates have nearly 18,000 employees and consolidated revenue of $9.2 billion. Its activities are separated into three divisions: Olymel S.E.C (under the Olymel, Flamingo, and Lafleur brands), the Agri-business division (under the La Coop, Elite, Agrocentre Agrico, and Agromart banners), and Groupe BMR under the BMR, Unimat, Agrizone and Potvin & Bouchard banners.
“As seed and grain distribution operations are becoming more competitive every day, we are pleased to invest and reinforce our presence in Ontario and on the Canadian market,” says Ghislain Gervais, president, La Coop fédérée. “This partnership will generate new efficiencies but more importantly better seed offering to all farmers in Canada.”
This partnership announcement comes on the heels of La Coop buying Cargill’s Ontario retail locations, announcing plans for a new terminal at the Port of Quebec, and acquiring Standard Nutrition in Western Canada.
Financial terms of the partnership have not been disclosed.