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Have questions about the merger between GreenPoint Ag, Tennessee Farmers Cooperative's Wholesale Agronomy, and Agri-AFC? Below you will find answers to the most frequently asked questions.
GreenPoint Ag Holdings, LLC (which will operate as GreenPoint AG) is 100% wholly owned by five parent companies—Alabama Farmers Cooperative (AFC), Tennessee Farmers Cooperative (TFC), WinField Solutions, LLC (WinField United), Tipton Farmers Cooperative, and Farmers, Inc. AFC, TFC and WinField United will manage GreenPoint Ag. GreenPoint Ag is the result of merging the wholesale agronomy business of Tennessee Farmers Cooperative, the wholesale and retail business of Agri-AFC, LLC, and the retail business of GreenPoint Ag, LLC. The new company will operate 99 retail and wholesale agronomy locations in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, Tennessee, and Texas, servicing 11 crops across 28 million acres. This will make the combined GreenPoint Ag a top 7 wholesale and retail agronomy company with over $1 billion in sales.
Though each company is individually financially strong, this merger is a strategic decision to garner the benefits of shared talent and increased productivity. Consolidations are continuing throughout the supply chain in the agriculture industry, and experts are forecasting continued economic uncertainty for our farmers as trade issues continue to be a concern. These moves continue to put additional pressure on all businesses to find ways to become more efficient, and this merger positions us to help our farmers and members win and compete in this hyper-competitive market.
Consolidation and merger are synonyms, and you may hear either word throughout this process. The difference between a consolidation/merger and one company being acquired by another is that in a merger, all parent companies involved hold ownership, while in an acquisition, the acquired company would assume no ownership.
The GreenPoint AG merger was completed on September 2, 2020. However, the transition will continue over the next several months.
Jeff Blair has been selected to lead the new entity as Chief Executive Officer. He comes to Greenpoint AG most recently from The Andersons, where he was President of the Plant Nutrient Group. Previous to that role, he held leadership roles at Intrepid Potash, Orica Mining Services and was a Captain in the U.S. Army.
GreenPoint AG will be headquartered in Decatur, Alabama with regional offices in LaVergne, and Memphis, Tennessee.
Yes, GreenPoint AG will continue to operate all facilities of the legacy companies. The facilities will take the name GreenPoint AG, and the leadership team will continue to assess profitable opportunities.
All news and updates can be found at www.greenpointag.com
Our goal is to help our customers, members and farmers, succeed. For if they don’t win, none of us do. We know that the competitionand conditions are brutal for many out there. We're striving for this new business to better serve our customer so they may compete and win in this hyper competitive, ever-changing world.
Yes, the equipment programs through TFC, AFC, and LOL are all still available.
The credit process on September 3, 2020 will remain the same. Any credit process changes will be communicated.
Statements through September 30, 2020 will come from the legacy company where you made purchases. However, all account information will automatically transfer to GreenPoint AG on October 1, 2020. Beginning October 1, 2020 all statements and invoices will reflect the new GreenPoint AG entity.
Statements postdated October 1, 2020 will come from GreenPoint AG. However, checks accidentally written to legacy organizations will be accepted.
Financing programs are expected to remain the same. Any changes in financing programs will be communicated.
Yes, The WinField United Catalyst program will still be available for grower participation.
Current ag technology platforms (Incompass or AccuField) will be available through your local retail or cooperative location.
While GreenPoint AG will be led by a new CEO, Tim Witcher, Mike Malone, and a representative from TFC will work in an advisory role with the new CEO.
AFC, TFC and WinField United will each select two board members to constitute the board of the new organization.
The fiscal year will run 08/01 – 07/31.