Blair’s Crop Solutions (2020) Inc. (Blair’s) is pleased to announce it has entered into an agreement to sell its Lipton location and NH3 assets at Lipton and Balcarres to ProSoils Inc. (ProSoils) of Rose Valley, Sask. The divestiture of the Lipton location was a requirement of the Competition Bureau when Blair’s Family of Companies entered into a joint venture with Federated Co-operatives Limited (FCL) on July 31, 2021.
“The Lipton location has been an integral part of Blair’s for over 10 years. While the divestiture process has been challenging to our customers and staff at Lipton, we are pleased to work with ProSoils on transitioning the ag retail operations at Lipton to a progressive and independent family-owned business,” said Kevin Blair, Blair’s Chief Executive Officer.
ProSoils will commence operations of the Lipton location effective immediately, and the transaction is expected to close on or before Jan. 31, 2022. As per the consent agreement with the Competition Bureau, local Co-ops will be ineligible to purchase the Lipton assets for a designated period of 10 years. Customers can be assured that all Blair’s customer commitments for products and services will transition seamlessly to ProSoils.
“On behalf of the ProSoils team, I am very excited to welcome the Lipton location staff and customers to our ag retail family. Our business has deep roots in the ag industry right from our family farming operation to our independent ag retail business. We look forward to working with the Lipton and area customers to continue to provide high quality products and services through the Lipton location,” said Jeff Prosko, ProSoils’ President.
The Lipton location staff will be offered positions with ProSoils and they look forward to more opportunities to grow the team at the Lipton location to support the agronomy and business needs of the Lipton customers. The Lipton location staff and the ProSoils team will be reaching out to customers and supplier partners to share the details of this announcement. Customers requiring immediate assistance are encouraged to contact the Lipton location staff, as they are ready and excited to serve customers’ business needs as part of the ProSoils team.
Eight Capital of Calgary, Alta., acted as financial advisors to Blair’s in connection with the sale of the Lipton location.
