South West Ag Partners sells Veritas Farm Management

The news

South West Ag Partners, the Chatham-based ag input and grain dealer, has reached an agreement to sell its subsidiary Veritas Farm Management to Deveron UAS, a drone-derived data company.

The details

The sale includes South West Ag Partners’ 100 percent share of Veritas Farm Management Inc., but this is a separate deal from the pending transaction between Cargill, La Coop fédérée, and South West Ag Partners. Cargill announced in March that it was selling its 50% stake in South West Ag Partners to La Coop fédérée, a deal that also included another 13 grain and crop inputs retail locations in Ontario.

Finalization of the transaction with Deveron will take place upon the completion of definitive agreements and any required regulatory reviews, the company says in a release. The sale is expected to close in Q3 of 2018.

Quotes

“Data, analytics and insights have always been the driving factors of our vision in building Deveron as a leading drone data company in North America. Veritas has built an insights business deeply rooted in understanding the needs of farmers and what can be implemented on the farm today. We look forward to growing our mutual customer base by providing complementary product offerings that are all rooted in increasing yields and reducing costs,”  — Deveron’s president & CEO, David MacMillan

“Veritas was born out of the need for better management tools for Ontario farmers. Drone imagery has become one of the tools that allows for better management decisions. This partnership will enable Veritas to continue to develop and deliver measurable solutions to our current and growing geographical footprint of customers, in a way that is easy for farmers to implement. By working with the South West Ag team, Veritas Farm Management has been able to position itself within the Ontario market in a way that is both strategic and unique. This new relationship with Deveron will only enhance our ability to execute for our customers,” — Aaron Breimer, business manager of Veritas Farm Management Inc.