Major Supplier Sells Fertilizer Unit
Lange-Stegmann plans to transfer its wholesale fertilizer sales unit to United Suppliers of Eldora, IA, effective immediately.
Terms of the sale were not disclosed and no assets will be transferred as part of the deal.
President Mike Stegmann said the sale of the three-decade-old division is “part of the continuing evolution of this privately held company.” One of three divisions of Lange-Stegmann, the wholesale business supplies more than 100 retail agribusiness outlets in the region surrounding St. Louis with bulk agricultural fertilizers. Stegmann said he believes United Supplier’s size and scope can bring growth to the business.
As part of the agreement, United Suppliers will use the terminal and warehouse facilities owned and operated by Lange-Stegmann to supply products to their growing retail customers in the Midwest.
Stegmann said the sale allows the company to focus on its fastest-growing divisions, terminal operations and Agrotain. The terminal operations were expanded two years ago with the dedication of the St. Louis Urea Center, the largest inland terminal warehouse. The structure is part of a $20 million expansion in facilities, the company said.
Lange-Stegmann acquired the Agrotain portfolio and in 2000, formed Agrotain International, which now sells products in more than 70 counties thanks to high fertilizer prices and grower demands.
(Source: St. Louis Business Journal)