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CENEX/LAND O'LAKES AGRONOMY COMPANY SIGNS LETTER OF INTENT TO BUY VIGORO FARMARKETS

 INVER GROVE HEIGHTS, Minn., Sept. 2 /PRNewswire/ -- The Cenex/Land O'Lakes Agronomy Company announced today the signing of a letter of intent to purchase 18 Vigoro Industries retail Farmarkets in Idaho, Minnesota and Iowa. In addition to this transaction, Vigoro and Cenex/Land O'Lakes will enter into a long-term wholesale product supply contract for nitrogen and potash products.
 The agreement serves both companies well, said Al Giese, vice president for plant food at Cenex/Land O'Lakes. "It provides Vigoro the ability to supply increasing quantities of wholesale products to Cenex/Land O'Lakes," he said, "while providing our system with attractive retail growth opportunities."
 The Cenex/Land O'Lakes Agronomy Company is a joint marketing venture of two leading regional cooperatives. It serves farmers in 15 states from Wisconsin to the Pacific Northwest. Vigoro is a major manufacturer, wholesale marketer and retailer of potash, nitrogen-based and related products.
 "We see this as a mutually beneficial agreement," said Vigoro President Robert Van Patten. "It allows both companies to focus on their strategic strengths and enhances an already important long- standing business relationship between us."
 Giese said Cenex/Land O'Lakes is always seeking opportunities to assist local cooperatives in strengthening their operations. "The Vigoro Farmarket purchase is a significant example of this commitment," he added.
 Of the 18 Farmarkets, nine are located in Minnesota, five in Iowa and four in Idaho.
 -0- 9/02/93
 /CONTACT: Al Giese, 612-451-5493, or Paul Rhein, 612-451-5373, both of Cenex/Land O'Lakes Agronomy Company/


CO: Cenex/Land O'Lakes Agronomy Company; Vigoro Industries ST: Minnesota, Iowa, Idaho IN: AGR SU: TNM

DB-AL -- MN008 -- 8609 09/02/93 17:25 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
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