Agriculture Acquisitions in Iowa

Granite Creek Capital Partners has acquired Ritchie Industries, a century-old manufacturer of automated livestock watering products headquartered in Conrad, Iowa. The transaction is supported by an investment from Rural American Fund and a rollover by Ritchie's management and employees to fund product innovation and expand Ritchie’s presence in existing and international livestock 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.

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.

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.

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.

Deveron Corp. (TSXV: FARM) has acquired all assets of Frontier Labs Inc., a soil laboratory and agronomy services provider serving Iowa and Minnesota. The asset purchase included an initial US$825,000 cash payment, milestone cash/share payments and issued common shares as part of consideration, expanding Deveron’s lab and agronomy capabilities in the U.S. Midwest.

Albert Lea Seed House, a family-owned seed supplier based in Albert Lea, Minnesota, has acquired Blue River Organic Seed, the long-established organic seed corn brand headquartered in Ames, Iowa, from Farmers Business Network. The acquisition expands Albert Lea Seed's organic product line, adds Blue River's climate-controlled warehouse and strengthens its ability to serve organic farmers across the U.S.

Midwest Growth Partners (MGP) has made a growth capital investment in Canoyer Garden Center to support Canoyer’s acquisition of Stewart's Greenhouse. The capital will enable Canoyer, led by Kyle Canoyer, to vertically integrate its operations and expand its greenhouse growing and retail footprint.

An affiliate of Sun Capital Partners, Inc. has acquired Calcium Products, Inc., a manufacturer of calcium-based fertilizers headquartered in Ames, Iowa. The transaction represents First Capital Partners' exit of its 2013 investment in Calcium Products; Piper Sandler & Co. advised Calcium Products in the sale.

Raven Industries (NASDAQ: RAVN) acquired Smart Ag Inc., a developer of autonomous farming solutions headquartered in Ames, Iowa, to bolster its Raven Autonomy strategic growth platform and integrate Smart Ag into its Applied Technology division. The deal expands Raven's autonomous and perception/path-planning capabilities for OEM partners and large-scale agricultural retailers and brings Smart Ag's retrofit kits, software platform and dealer network into Raven's precision-ag portfolio.

Benson Hill Biosystems has acquired the assets of Schillinger Genetics (also known as eMerge Genetics), an Iowa-based developer of high-protein, non-GMO soybean varieties. Benson Hill will integrate Schillinger's germplasm and breeding expertise into its Seeds & Traits business and use its CropOS platform and gene editing capabilities to accelerate development of expanded soybean portfolios for human food and animal feed markets.