The two organizations plan to operation nationally and develop synergies between their existing operations. Maizex Seeds produces and markets seed corn and seed soybeans, while La Coop fédérée produces and markets seed for corn, soybeans, cereals and forages under the Elite brand. Over the coming months, the companies will be working together on a market strategy to provide more product access and support to farmers across the country.
"As seed and grain distribution operations are becoming more competitive every day, we are pleased to invest and reinforce our presence in Ontario and on the Canadian market" said Ghislain Gervais, President, La Coop fédérée. "This partnership will generate new efficiencies but more importantly better seed offering to all farmers in Canada."
La Coop fédérée is the largest agri-food enterprise in Quebec and it is the 24th largest agri-food cooperative in the world. It represents more than 120,000 members, agricultural producers and consumers grouped into nearly 70 cooperatives with operations spread out in many Canadian provinces. More than 13,000 people are employed at La Coop fédérée which has annual revenues of $6.3 billion. Including its affiliated network, La Coop fédérée has nearly 18,000 employees and consolidated revenue of $9.2 billion.
In the past couple of months, La Coop has made other announcements. These include La Coop purchasing the grain and crop production input assets of Ontario firm Cargill, and developing a new $90 million grain transfer terminal in Anse au Foulon, Quebec.