Deveron acquires Agronomic Solutions, LLC. expanding US footprint

Deveron Corp. (TSX-V: FARM) (“Deveron” or the “Company”), a leading agriculture digital services and insights provider in North America, announced it has entered into a definitive agreement dated September 8, 2021 (the “Definitive Agreement”) to acquire the assets of Agronomic Solutions, LLC. (“Agronomic Solutions”), a leading digital agronomy company, that services Iowa, Nebraska, Missouri, Minnesota, Illinois and Kansas (the “Acquisition”). Agronomic Solutions provides soil sampling services and digital management across 400,000 acres of customers annually. Agronomic Solutions’ unaudited 2020 revenue was US$1.54M and EBITDA of US$430k. This acquisition adds another leading local agriculture service provider in key jurisdictions in the United States, accelerating the Company’s growth strategy by increasing acres under management.

Brandy Hodges, an original founder of Agronomic Solutions, commented “Nick and I are so excited to have Agronomic Solutions join the Deveron family. Deveron’s end-to-end soil health solutions and turn-key insights offer agribusinesses the opportunity to drive value through increasing yields while reducing cost. We are excited to utilize these tools to facilitate accelerated growth as Agronomic Solutions continues to expand in our territory.”

“Agronomic Solutions is a remarkable leader in soil sampling and soil data analytics in their operating territories. The trust that Brandy and Nick have built with their customer base is very impressive and something we look to build upon as they grow within the company.” Said David MacMillan, Deveron’s President and CEO. “Adding Agronomic Solutions to Deveron’s growing footprint is an integral step towards our vision of being North America’s leader in soil health data and insights. We look forward to working with Brandy, Nick and the rest of the Agronomic Solutions team to leverage Deveron’s end-to-end soil health solutions to increase their influence across Mid-Western United States.”