Agriculture Acquisitions in 2024

S&W Seed Company has transferred 100% of the shares of its Australian subsidiary, S&W Seed Company Australia Pty Ltd, to Avior Asset Management No. 3 Pty Ltd following a creditors-approved Deed of Company Arrangement (DOCA). The transfer completes the voluntary administration process for the subsidiary; S&W entered settlement agreements, transferred certain IP and inventory, and was released from intercompany obligations and a AUD 15.0 million bank guarantee.

Chicago-based private equity firm Granite Creek Capital Partners has invested in Global Animal Products (GAP) to support a management buyout and recapitalize the Amarillo, Texas-based feed-additives manufacturer. Founder Ken Ridenour will step back and retain a minority stake, while CEO Ben Tarr and the management team will continue to run the business with strategic support from Granite Creek and Operating Partner Mike Ray to scale product development, expand facilities, and pursue international growth.

Super-Sod (Patten Seed Company) acquired Tri-Tex Grass, a Granbury, Texas-based turfgrass grower, in a transaction completed November 14, 2024. The deal expands Super-Sod’s distribution and farming footprint into Texas; Tri-Tex operations and leadership (Mike Pender and Mark Graf) will transition to operate under the Super-Sod brand.

FarmQA, a Fargo-based digital agronomy platform, has acquired Farm Dog, an agricultural data platform and former wholly owned subsidiary of Deveron Corporation. The deal transfers Farm Dog's data technology to FarmQA to expand its agronomic capabilities, soil testing focus, and global ag‑tech impact.

Tessenderlo Kerley, Inc. (a subsidiary of Tessenderlo Group) acquired Tiger-Sul Products from Platte River Equity, with the transaction closing on November 6, 2024. The acquisition expands TKI's specialty fertilizer portfolio by adding Tiger-Sul's sulfur-based crop nutrition and soil enhancement products; Tiger-Sul will continue operating under its existing brand names.

H.I.G. Capital, through an affiliate, acquired a majority stake in Life Agro, a Brazil-based producer of specialty agricultural inputs. Life Agro’s founder and CEO Matias Ezequiel Tiecher remains a significant shareholder and will continue as CEO; the company (~200 employees) operates two production facilities and eight distribution centers and has grown ~45% CAGR over the past five years.

The Andersons, Inc. (Nasdaq: ANDE) has acquired a majority ownership stake in Skyland Grain, LLC, expanding its grain and fertilizer businesses across Kansas, Oklahoma, Colorado and Texas. The deal gives Skyland access to The Andersons' asset footprint and merchandising capabilities, while enlarging The Andersons' retail farm center business and agronomy presence in the region.

Jones Capital, a family-owned investment firm, has completed a strategic growth investment in Alta Arbor, an investment holding company focused on horticulture businesses. The partnership will shift Alta Arbor from a dividend-driven approach to a growth-oriented strategy, leveraging Jones Capital's operational resources and expertise to accelerate expansion across the green industry value chain.

Hendrix Genetics has signed an agreement to merge its swine division, Hypor, with Danish Genetics and partners to create a combined swine-genetics entity in which Hendrix will hold a majority stake. The strategic combination is intended to expand product portfolios, strengthen R&D capabilities and broaden global distribution in the swine genetics market; the transaction is expected to close in early 2025.

Novo Holdings has agreed to acquire a majority stake in Stingray Marine Solutions, an Oslo-based provider of intelligent aquaculture technology that removes sea lice using camera vision, software and laser technology. The investment, made by Novo Holdings’ Planetary Health Investments team, is intended to scale Stingray’s sustainable aquaculture solutions and expand opportunities in data & analytics and precision farming.

Platte River Equity portfolio company Turf Care Supply, LLC has acquired Agri-Nutrients, Inc., a manufacturer and blender of custom granular fertilizers serving the turf & ornamental market. The add-on expands Turf Care's product portfolio, adds manufacturing capacity and establishes an enhanced presence in the south-central United States.

Jackrabbit Equipment Inc., a portfolio company of Midwest Growth Partners, has merged with Exact Corporation to create an integrated solutions provider for the permanent crop (nut) harvesting industry. The combined business will market both Jackrabbit and Exact brands, with Exact CEO Doug Flora named CEO of the merged entity, and will focus on product innovation, expanded customer support and growth in domestic and international markets.

Seattle-based private equity firm Sound Growth Partners acquired Stueve Construction, a leading U.S. designer and builder of bulk fertilizer storage facilities, with capital provided by Brookside Capital Partners, Capitala Group and other investors. The transaction will support Stueve's next phase of growth and innovation as the company continues to serve major fertilizer manufacturers, distributors, retailers and cooperatives.

Gevo, Inc. has acquired Cultivate Agricultural Intelligence, LLC (CultivateAI) for $6 million in cash, with potential additional earn-out payments, and will fold the business into its Verity subsidiary. CultivateAI is a cloud-based SaaS provider of agricultural data and analytics (expected 2024 revenue $1.7 million) that Gevo plans to combine with Verity's carbon accounting tools to expand revenue streams and accelerate capability development.

HBM Holdings has acquired Calcium Products, Inc., a manufacturer of calcium-based fertilizers headquartered in Ames, Iowa, from an affiliate of Sun Capital Partners. The deal adds approximately 130 employees and expands HBM's agricultural and specialty fertilizer capabilities as part of its portfolio diversification and buy-and-build strategy.

CropX, a San Francisco-based agronomic farm management platform, has acquired EnGeniousAg, an Iowa State University spinout that developed near-instant, in‑field nitrogen sensing technology. CropX intends to integrate EnGeniousAg's patented nitrogen sensors into its farm management system to improve precision nitrogen fertilizer management, reduce input costs and advance sustainability for growers.

Mastronardi Produce has acquired full and exclusive North American rights to Mastronardi BerryWorld America, buying out its partner BerryWorld Group’s stake in the 2018 joint venture. The move gives Mastronardi continued access to BerryWorld’s breeding program and consolidates control of premium proprietary berry varieties across North America.

Kubota North America Corporation, a subsidiary of Kubota Corporation, has acquired Bloomfield Robotics, a Pittsburgh-based agritech company that uses advanced imaging and AI to monitor plant-level health for specialty crops. The acquisition adds Bloomfield's camera hardware and SaaS analytics capabilities to Kubota's smart agriculture strategy, accelerating its offering for specialty crop growers (grapes, blueberries, tree nuts) and enabling tighter integration with farm equipment.

Koch Ag & Energy Solutions (KAES) completed the acquisition of Iowa Fertilizer Company LLC (IFCO) from OCI Global for $3.6 billion on a cash-free, debt-free basis, closing Aug. 29, 2024 (deal signed Dec. 18, 2023). The Wever, Iowa facility — commissioned in 2017 with capacity of 3.5 million metric tons of nitrogen fertilizers and diesel exhaust fluid annually — joins Koch's fertilizer platform, expanding its US production footprint and eastern U.S. market reach.

Viserion Grain, LLC — a Pinnacle-backed grain platform — acquired four grain elevator assets from Greenfield Grain, LLC located in Parkdale, Arkansas and Dunn, Crowville and Lake Providence, Louisiana. The transaction expands Viserion Grain's storage and river/terminal footprint in the U.S. deep south to enhance origination, transportation and commercial management capabilities; terms were not disclosed.

NativeSeed Group, the seed and erosion-control platform backed by Heartwood Partners, has acquired Arrow Seed, a fourth-generation family-owned seed conditioner and supplier based in Broken Bow, Nebraska. The add-on expands NativeSeed's Midwestern footprint and broadens its product portfolio with additional warm-season and conservation seed varieties.

Singapore-based shrimp genetics company SyAqua, which is majority-owned by Luxembourg-headquartered private equity firm Ocean 14 Capital, has acquired Mims, Florida–based Primo Broodstock. The acquisition expands SyAqua’s U.S. broodstock production capacity and genetic resources, enhancing strain security and enabling increased supply to major shrimp-producing markets.

Agro Care (an NPM Capital–backed grower) and fellow Dutch tomato grower CombiVliet have merged and will operate under the name Agro Care, combining nearly 500 hectares of greenhouse production with ambitions to reach 1,000 hectares in the Netherlands and internationally. The deal aims to drive efficiency and sustainability through shared staff services, joint purchasing and a common headquarters; Kees van Veen will be CEO of the combined business while Roy van Vliet and Philip van Antwerpen will lead Dutch and Tunisian operations respectively.

Strategic Sourcing International (SSI), the parent company of PRO*ACT and other produce-focused subsidiaries, has acquired Your*Way Fresh, a Monterey-based fresh produce sourcing and supply-chain company. The acquisition is intended to create synergies with SSI’s existing portfolio (including PRO*ACT, PRO*FRESH Logistics and PRO*FRESH Sourcing) and expand SSI’s produce sourcing, processing, packaging and logistics capabilities.

Sustainable Green Team, Ltd. (OTC: SGTM) completed the acquisition of Regen Hubs North America, Inc., Regen Hubs International, Inc., and HumiRock, LLC (collectively “Regen Hubs”) on July 1, 2024. SGTM said it will leverage Regen Hubs' soil-health expertise and established retail and institutional networks to expand distribution of its sustainable agricultural and soil products across U.S. and international markets.

Novo Holdings has agreed to acquire a 25% minority stake in Sejet Plant Breeding from DLG Group. The partnership will provide growth capital to scale Sejet’s plant-breeding operations and invest in new genomic and breeding technologies to accelerate development of climate-resilient crop varieties.

Novo Holdings led a growth investment in AgNext Technologies Private Limited, an India-based agritech company that develops AI-driven food quality assessment solutions. The funding will support product development, international expansion and scaling of sales to new food segments.

CVC Capital Partners (Fund IX) will take a minority stake in URUS Group to support and accelerate the company’s strategic growth plan. The investment — made alongside existing shareholders Pon Holdings and Cooperative Resources International (CRI) — will help URUS expand its genetics, reproduction and farm management data platform; the deal is expected to close in Q3 2024 and terms were not disclosed.

Inverness Graham's Green Light Fund completed a majority recapitalization of My Yield, a seed treatment and agronomic solutions provider based in Oelwein, Iowa. The investment will support My Yield's expansion of product offerings and capabilities as part of Inverness Graham's AgTech Transition focus within its environmental sustainability strategy; terms were not disclosed.

Crescentia Capital’s portfolio company Synsus Private Label Partners has acquired AmegA Sciences, LLC and React Industries, LLC, combining the businesses into Synsus’s manufacturing platform. The acquisition expands Synsus’s specialty liquid fertilizer, adjuvant and private-label chemical manufacturing footprint and product offerings for agriculture, turf & ornamental, and direct-to-consumer markets.

Incline Equity Partners has partnered with W.S. Connelly, a Richmond-area value-added distributor of agronomic consumables serving lawn care, landscape and golf customers. Incline will support WSC in broadening product lines, accelerating proprietary brand development and pursuing strategic M&A and greenfield expansion to increase market density and geographic reach.

Mucci Farms has acquired Hacienda North Farms, a 159‑acre greenhouse facility in Coatsworth, Ontario, adding a significant land bank and expanding its controlled‑environment production capacity. Mucci Farms — part of the newly launched Cox Farms business owned by Cox Enterprises — said the purchase will deepen its bell‑pepper production capabilities and better serve retail and foodservice partners.

SiteOne Landscape Supply has acquired a majority stake in Devil Mountain Wholesale Nursery, a leading wholesale distributor of landscape trees and plants in California. The deal gives SiteOne a platform to expand its nursery product offering and geographic presence in the Western United States while Devil Mountain CEO Drew McMillan remains as president.

Valudor Products, a US-based distributor of chemical raw materials, has acquired the assets of LidoChem Inc., a Hazlet, New Jersey-based supplier of chemical raw materials and specialty fertilizers. The deal, supported by financing from Monroe Capital, is intended to expand Valudor’s product portfolio and accelerate growth into the specialty fertilizers market; terms were not disclosed.

Custom Agronomics, a portfolio company of Inverness Graham Green Light, has acquired BioTek Ag to expand its private-label portfolio of liquid plant nutrients, nitrogen stabilizers and specialty products. The deal broadens Custom Ag’s formulation capabilities and extends the combined business’s geographic reach into the U.S. Midwest and Southeast. Terms were not disclosed.

King Ranch, Inc. has acquired a 50% stake in Cobalt Cattle, the United States' fourth-largest cattle feeding operator, which runs six feedyards across Colorado, Kansas and Texas. The transaction brings King Ranch into a strategic partnership with Cobalt (which is backed by growth equity partner AGR Partners) as part of King Ranch's move to expand and vertically integrate across the beef value chain.

AGCO Corporation and Trimble have closed a joint venture to form PTx Trimble, combining Trimble's precision agriculture business with AGCO's JCA Technologies. AGCO acquired an 85% stake (Trimble holds 15%), will consolidate the JV into its financials, and expects the combined precision ag revenue to exceed $2.0 billion by 2028.

AgroFresh Solutions, Inc. has acquired Pace International LLC from Valent BioSciences LLC, expanding AgroFresh’s post‑harvest solutions portfolio and strengthening its presence in key fruit‑growing regions in North and South America. The deal pairs Pace’s edible coatings, fungicides, storage treatments and application equipment with AgroFresh’s global scale and will be complemented by a strategic collaboration between AgroFresh and Valent BioSciences to accelerate innovation.

EASY BIO, Inc., a South Korea-based animal nutrition company, has acquired Devenish North America — the North American division and related assets of Devenish Nutrition Group. The sale is a divestiture by Devenish to sharpen focus on its core European operations; Devenish will use proceeds to pay down debt and invest in other international markets while Devenish North America will continue to operate under the Devenish name under EASY BIO ownership.

Pfingsten's portfolio company Fairbank Equipment, Inc. has acquired Big W Sales, Inc., a Stockton, California-based distributor and manufacturer of agricultural parts, trailers, tanks and equipment. The transaction, which closed on January 2, 2024, expands Fairbank's footprint into California and broadens the combined group's distribution and manufacturing capabilities across the western United States; Big W's leadership will remain as shareholders and continue operating the business.

Summa Equity (via Summa Equity Fund III) has made a majority investment in Norwegian fish-health products and services leader STIM AS, partnering with founder Jim‑Roger Nordly. The investment will support STIM’s product development, new growth verticals and international expansion of its advisory and service offerings in aquaculture.

A North American-led consortium made up of Paine Schwartz Partners, Driscoll's Inc. and British Columbia Investment Management Corporation has acquired Australia’s Costa Group after shareholders accepted a A$3.20-per-share offer and the company was delisted from the ASX. The consortium said it will work with Costa’s team to grow the global berry business and further develop Costa’s capabilities across its fresh-produce portfolio.

nuEra Cannabis, a family-owned Illinois cannabis retailer, has acquired Ieso, an original Illinois cultivation licensee, adding an 85,000 sq. ft. cultivation and processing facility in Murphysboro, Illinois. The deal vertically integrates nuEra by bringing cultivation, hydrocarbon extraction and a commercial kitchen in-house to support wholesale and retail expansion across the state.

Huma Inc. has acquired the technological assets and ownership rights of Gro-Power, Inc., giving Huma entry into the granular, humic-based fertilizer market and expanding its turf & ornamental product portfolio. The deal preserves Gro-Power’s legacy products and adds granular fertilizer and soil conditioner technologies to Huma’s existing liquid nutrient and specialty product lines; terms were not disclosed.

NativeSeed Group, a Heartwood Partners portfolio company, has acquired Star Seed, a producer and supplier of conservation and farm seeds based in Osborne, Kansas. The add-on expands NativeSeed's product offering (adding warm-season varieties and >300 seed varieties) and extends its geographic footprint into the U.S. Midwest to better serve conservation, farm, and restoration customers.

Greater Omaha Packing Inc. has acquired Nebraska-based Heartland Proteins, a supplier and blender of meat-and-bone meal for the animal feed industry. The deal brings Heartland's blending capabilities and customer relationships into Greater Omaha's existing rendering and protein supply operations and will be supported by the continued involvement of founder Keith Fulton.

Costa Farms, the Miami-based wholesale grower, acquired Battlefield Farms, a 40-year-old grower of annuals and perennials in Rapidan, Virginia, expanding Costa's production footprint and assortment. The deal brings Battlefield's 45 acres of greenhouse and 20 acres of outdoor production into Costa's network, strengthening its supply to national retailers and regional customers.

ForFarmers' equine brand Pavo, via ForFarmers UK Holdings Ltd, has acquired 100% of Thunderbrook Equestrian Limited, a UK/Ireland-focused equine feed and supplements brand. The acquisition gives Pavo access to Thunderbrook's specialist wholesale/retail distribution network and online presence to strengthen and expand its position in the horse feed market in the UK and Ireland.