NASDAQ OMX

Agrisolutions Acquires Trinity

Dela

HAMILTON, Ontario, March 23, 2018 (GLOBE NEWSWIRE) -- Venanpri Group's Agrisolutions division, which services the global agricultural marketplace with its Ingersoll and Bellota brands, announced today the acquisition of Trinity Logistics Corporation ("Trinity").  Based in the U.S., Trinity provides supply-chain solutions relating to fasteners and other components to leading global OEMs that produce mission critical machinery for the agricultural and construction end markets.  The terms of the transaction were not disclosed.

Headquartered in Davenport, Iowa, Trinity has established ten strategically located service facilities throughout the United States. Trinity specializes in the supply of standard and custom components through vendor managed inventory programs and other arrangements tailored to customer needs. Trinity utilizes its industry leading technology to improve the flow of products, services and information across the supply chain resulting in excellence in the operations of its customers.

"Trinity has built an impressive reputation and business system based on the timely supply of high-quality products and line services to the agricultural and construction markets. They provide superior products and services that enable their customers to excel in the marketplace," said Steve Garrette, President of Agrisolutions. "We're very excited to partner with the Trinity team to grow the company's service to our mutual clients both domestically and internationally for years to come."

The addition of Trinity brings significant benefit to Agrisolutions customers worldwide through more efficient inventory management and timely sourcing throughout the supply chain.  Trinity's systems allow OEMs to run their production lines more efficiently enabling them to better serve their markets while reducing costs. Trinity's unique abilities allow products to be delivered in the right place at the right time in the most desirable configuration, whether for an OEM's production line or for rapid delivery to the aftermarket.

The Trinity acquisition further illustrates Agrisolutions' commitment to providing world class solutions to the markets it serves, going beyond the offering of exceptional products to adding a proven, innovative supply and service system.

Dan Zehnder, CEO of Trinity Logistics added, "Trinity has built a world class supply chain and logistics model to serve both OE factories and distribution channels using the best in class technology tools and local facilities focused on serving the needs of the client. I am confident that the company will continue to expand in our value-add to our clients and develop new opportunities with the team of Agrisolutions and their stakeholders. The full management team of Trinity remain fully committed to continuing to develop the business with their new partners/owners at Agrisolutions".

About Venanpri Group

Venanpri Group is a global organization with two divisions (Tools and Agrisolutions) and more than 1,400 employees.

Agrisolutions is the global market leader in the manufacturing of Agricultural consumable wear components (including discs, coulters, sweeps, openers, tines, springs and blades) that are embedded into soil preparation and planting/seeding implements for all types of farming operations including conservation, minimum tillage and no till operations. Agrisolutions products are high precision wear components, selling under widely recognized brands including IngersollBellotaSolbjerg and Rozalma as well as the brands of its OEM customers for both new equipment and aftermarket products.

Venanpri Tools produces and distributes thousands of branded hand tool products, including pruning tools, shovels, masonry trowels, machetes, files and hoes (among many others) for professional and consumer use in the agricultural, gardening, construction, and industrial segments.  Venanpri Tools sells its products under the well-recognized brands of Bellota, Corona and Burgon & Ball.  Venanpri Tools sells in more than 80 countries and has manufacturing and distribution facilities in the U.S.A., Spain, Mexico, the United Kingdom and Colombia with sales offices in 18 countries.

For more information on Trinity Logistics Corporation, visit its website at http://www.trinitylogisticsgroup.com/

For further information:
Agrisolutions
Roger Murdock
Vice President, Global Brand Management
rmurdock@Agrisolutionscorp.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Venanpri Group via Globenewswire

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