July 30, 2013
CHS Inc. and Ruralco Holdings Limited have invested in Agfarm, an Australia-based grain origination and marketing company, and will each own 50% of Agfarm, while Agfarm name and management structure will not change.
"CHS is committed to investing for the long term in the Australian market, so that Agfarm growers benefit from even stronger connections to the growing, global demand for high quality grains and oilseeds," said Rick Browne, CHS Ag Business, senior vice president, Asia-Pacific. "This partnership aligns with CHS strategic growth initiatives that add value to member-owners by competitively linking global producers with buyers and consumers."
Agfarm founder Bob McKay will continue to serve the organisation as chief executive officer.
CHS Inc. is a leading global agribusiness owned by farmers, ranchers and cooperatives across the US. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations.
Ruralco Holdings Limited (ASX: RHL), is a leading Australian agribusiness. Ruralco operates through a national footprint of businesses that specialise in providing rural customers with products and services in merchandise, fertiliser, seed, wool, livestock, real estate, risk management, water, grain, finance and insurance.
Agfarm is an Australian owned agribusiness that works with growers to manage the marketing and sale of their grain. Agfarm provides a range of services to make farming easier and ensure the long term viability of its clients operations. Since becoming part of the Ruralco Group in 2009, Agfarm has been able to develop relationships with a broader network and has secured profitable, long term growth for the business.