Deveron Acquires 67% Stake in A&L Canada Laboratories
May 2, 2022
Deveron Corp. has agreed to acquire a 67% equity interest in A&L Canada Laboratories East, Inc. for $50.3 million (cash and shares), with an option to acquire the remaining 33% after three years. The acquisition expands Deveron's lab capacity and agronomy capabilities, creating a vertically integrated agriculture data company headquartered in Canada and increasing pro forma revenue to $35.3 million.
- Buyers
- Deveron Corp.
- Targets
- A&L Canada Laboratories East, Inc.
- Sellers
- Certain vendor shareholders (including Greg Patterson)
- Industry
- Agriculture
- Location
- Ontario, Canada
- Transaction Type
- Buyout
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