The Ag Exchange Group has acquired FarmLink Marketing Solutions’ brokerage department.
FarmLink, which continues to provide grain market analysis and advisory service to farmers, has partnered with Ag Exchange Group on its CXN360 platform for price discovery, which enables the two to collaborate with clients based on grain prices and strategic objectives.
“New technology has changed the way farmers access price information on a live basis. Using CXN360 and comprehensive market advice, farmers can have more clarity when making business decisions,” says Mark Lepp, CEO of FarmLink. “Ag Exchange’s technology is the future of brokerage.”
“The acquisition of FarmLink’s brokerage division demonstrates our continued commitment to the Canadian grain industry,” says Lyle Ehrmantraut, CEO and president of Ag Exchange Group.
“Rather than trying to reinvent and look for ways to stay relevant in commodity price discovery, partnering with Ag Exchange solidifies our approach to lead with strategy,” says Mark Lepp, CEO of FarmLink. “Our goal is to increase transparency to help our clients strategically grow their business and to leverage information and technology into new opportunities.”
According to a news release, full details about the partnership are still under discussion; however, both companies have agreed to work together to ensure all strategic objectives are achieved. Financial terms of the sale have not been disclosed.
The divestiture of the brokerage business follows FarmLink’s sale of its Farm At Hand management software to Telus in the summer of 2019.