CPS Acquires Ritter Crop Services
Ritter Agribusiness Holdings, No. 46 on the CropLife 100 list of largest ag retailers, has sold its crop services business to Crop Production Services.
March 19, 2012
Crop Production Services, Inc. (CPS) has acquired certain assets and executed leases related to the agronomy services business of Ritter Crop Services, Inc. (No. 46 on the CropLife 100). The announcement came after Ritter Agribusiness officials reevaluated the company's strategies and made the decision to focus on other growth initiatives, such as grain, farmland, farm management and gin services.
"E. Ritter & Company has been in business for 126 years, and we're constantly evaluating the direction of the company and the way we do business," said Ritter Arnold, president of Ritter Agribusiness. "After much consideration, we have decided to exit the retail agribusinesses and expand our presence in other agribusiness sectors in the Mississippi River Delta."
Arnold added that the sale of Ritter Crop Services to CPS is the final transaction in a series of recent activities to reposition Ritter Agribusiness for the future.
According to a release on CPS' Website, the Ritter Crop Services acquisition enhances CPS’ position in the Mid-South Region. The acquisition includes seven retail locations in Northeast Arkansas including: Caraway, Diaz, Lake City, Marked Tree, McCrory , West Ridge, and Wheatley. "It's part of our goal to be the leading provider of agricultural inputs in each of our markets," the company said.
CPS provides customers with crop service products, including fertilizer, seed and crop protection products. The company also offers additional agronomic services to farmers. Following the closing of the transaction, all RCS employees will become employees of CPS.