Inocucor Corporation has acquired Oak Bluff, Manitoba based ATP Nutrition, a producer of science-based plant nutrients. Financial terms were not disclosed.
Inocucor will continue to market ATP Nutrition’s micronutrient product line. ATP Nutrition will become a subsidiary of Inocucor. Inocucor also will continue to operate ATP’s 25,000-square-foot EPA-registered R&D formulation and manufacturing facility, which also serves as headquarters for its 23 employees. Jarrett Chambers, President of ATP Nutrition, will continue as President and general manager of ATP.
Montreal/Centennial, Colorado based Inocucor is an agri-tech company that develops microbial and plant nutrition products for agriculture targeting the phyto-microbiome—the seeds, plants, root systems and the soil surrounding them.
In January 2018, Inocucor completed a US $9.5 million or CDN $12.1 million add-on to Series B financing round which initially closed in March 2017, bringing to the total Series B funding to US $38.5 million or CDN $50.9 million. Pontifax AgTech led the second close joining TPG Alternative and Renewable Technologies Partners, L.P. (TPG ART), Cycle Capital Management, Desjardins Innovatech, and Denver based Cairn Investments.
[mepr-active rule=”374″ ifallowed=”hide”]★Research Note – Subscriber ONLY content: read our research and get insight on this and other deals. We offer monthly or yearly recurring or one-time trial subscriptions. Subscribe today and see what you have been missing! ★[/mepr-active][mepr-active rule=”374″]Inocucor’s three largest shareholders are TPG ART, Cycle Capital and Pontifax AgTech. [/mepr-active]
photo credit: ATP Nutrition
News Release
Inocucor Acquires Leading Crop Nutrition Company, Plans New Class of High-Performance Crop Inputs
Strategic partnership will spawn a suite of all-in-one crop treatments designed to maximize yields in broadacre crops
DENVER, April 17, 2018 — Inocucor Corporation, a developer and producer of biological crop inputs for high-value produce and row crops, announced it has acquired ATP Nutrition, a producer of science-based plant nutrients based in Oak Bluff, Manitoba, Canada. Terms of the acquisition were not disclosed.
Crop nutrients, such as those produced by ATP Nutrition and biologicals, such as Inocucor’s, are designed to work together to boost plant health and grower yields. ATP will continue to operate as a plant nutrient supplier to canola, soybean, corn, pulse and cereal growers through its broad distribution network throughout North America.
A key initiative of the new entity will be a collaborative effort by Inocucor’s and ATP’s R&D teams to develop products that synergistically drive the genetic potential of the crop by combining biologicals and plant nutrition. Products will be formulated based on plant type, geography and soil conditions.
“The combination of biologicals, such as Inocucor’s SYNERGRO® and SYNERGRO FREE™, with plant nutrients in ready-to-use combinations is unique in the ag sector,” said Donald R. Marvin, president and CEO of Inocucor. “This strategic partnership is the first major step toward Inocucor’s vision to offer a broad range of products that support farmers across their crop nutrient and biological needs.”
“Our scientific team will now be able to work with Inocucor’s top-notch R&D team to expand our science into new product formulations that balance macro and micronutrients with biologicals for agriculture. We’ll also expand our geographic reach into new regions and crop markets,” said Jarrett Chambers, president of ATP Nutrition, who will be the president and general manager of this wholly owned subsidiary of Inocucor.
Marvin said the acquisition, while complementing Inocucor’s core existing biological inputs business, will also help drive the company to profitability over the short- to medium-term. Inocucor will continue to market ATP Nutrition’s micronutrient product line through its existing sales force and distributor network throughout North America. Inocucor also will continue to operate ATP’s 25,000-square-foot EPA-registered R&D formulation and manufacturing facility, which also serves as headquarters for its 23 employees.
In May, Inocucor will occupy its new 30,000-square-foot U.S. headquarters and commercialization office currently under construction in Centennial, Colo. Its Montreal-based, R&D-focused Technical Center of Excellence was recently expanded from 10,000 to 20,000 square feet. The company employs about 40 people in Montreal and the U.S., and anticipates adding another 25 to 30 high-level scientific and managerial professionals over the next year.
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About Inocucor
Inocucor is an agri-tech company that develops microbial and plant nutrition products for agriculture targeting the phyto-microbiome—the seeds, plants, root systems and the soil surrounding them. Inocucor’s first product, Synergro®, employs live microbes to actively improve the health of the entire phyto-microbiome. Its second product, Synergro Free™, and future generations of Inocucor products are powerful biological formulations for biostimulation and biocontrol targeting high-value crops and broadacre production agriculture. For more information, visit www.inocucor.com
About ATP Nutrition
ATP Nutrition is a science-based plant nutrient company that develops and markets high-performance products and nutrient management plans for broadacre field crops. Its focus is on the three fundamentals of production agriculture; seed, soil, and the plant. Its revolutionary R3 Agronomic Platform bridges science and plant health in an easy-to-use, simple tool that delivers the full genetic potential of crops. ATP partners with leading distributors and retailers across North America. For more information, visit: www.atpnutrition.ca