GREELEY, Colo., Jan. 15 /PRNewswire-FirstCall/ -- UAP Holding Corp. announced that its subsidiary, UAP Distribution, Inc., has entered into a definitive agreement with Boettcher Enterprises to acquire certain assets of its retail distribution business including real property, retail locations, equipment and storage tanks. This agreement is subject to customary closing conditions.
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Boettcher Enterprises is a leading retailer of agricultural inputs with multiple locations in Kansas and Nebraska. In this two state region, the acquisition of this business should further UAP's strategy to expand retail market share. Boettcher has had a long standing wholesale relationship with UAP and has been one of our largest wholesale customers in this geography. The acquisition is expected to close in this fourth fiscal quarter.
"The acquisition of Boettcher Enterprises' distribution business greatly enhances UAP's presence in this key mid-western market," said Kenny Cordell, UAP Holding Corp.'s chairman, president, and CEO. "The expansion of our retail distribution through a quality organization such as Boettcher Enterprises is truly a great opportunity."
About UAP Holding Corp.
UAP Holding Corp. is the holding company of United Agri Products, Inc., the largest independent distributor of agricultural and non-crop inputs in the United States and Canada. United Agri Products, Inc. markets a comprehensive line of products, including crop protection chemicals, seeds and fertilizers, to growers and regional dealers. United Agri Products also provides a broad array of value-added services, including crop management, biotechnology advisory services, custom blending, inventory management and custom applications of crop inputs. United Agri Products maintains a comprehensive network of approximately 340 distribution and storage facilities and three formulation and blending plants, strategically located throughout the United States and Canada. Additional information can be found on the company's website, located at http://www.uap.com/.
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995
This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions regarding industry outlook, the company's expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward- looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "estimate," "expect," "intend" and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks related to the seasonality of the company's business and weather conditions in its markets, its substantial leverage and restrictions contained in its debt agreements, the possibility of liability for pollution and other damage that is not covered by insurance or that exceeds its insurance coverage, its dependence on rebate programs, and other risks identified and discussed under Item 1A. Risk Factors in the company's Form 10-K filed with the Securities and Exchange Commission on May 12, 2006 and in the other documents the company files with the Securities and Exchange Commission from time to time.
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