Create a free Feed & Grain account to continue reading

Sollio Agriculture Closing 6 Ontario Grain Elevators

Company plans to continue serving clients during 2022 harvest season


Sollio Agriculture is closing six grain elevators in Ontario to focus more closely on retail ag inputs.

The company, which is the majority shareholder in the Ontario Grain partnership, announced the six locations will continue to serve customers during the 2022 harvest season as it winds down operations.

Six locations will be sold

In a statement, Sollio Agriculture said Ontario Grain will initiate a sale process for the elevators in Florence, Staples, Saint-Thomas, Princeton, Wallaceburg and Palmerston.

“During the wind down process, Ontario Grain intends to honor all existing contracts and to fulfill its obligations to farm customers, employees and business partners for an orderly transition,” the company said.

“It plans to continue serving clients during the 2022 harvest season, at a reduced capacity. Ontario Grain will initiate a sale process of its assets with prospective buyers.”

Financial challenges made continuation "unsustainable"

Sollio Agriculture, formerly La Coop fédérée, had acquired the assets in 2018 as part of the company's national growth strategy. The company said recent financial challenges in the grain sector have made the continuation of Ontario Grain unsustainable.

“The extraordinary events of the past two years causing global economic disruption led to unexpected, significant business challenges and a volatile commodity market,” Sollio Agriculture CEO Casper Kaastra said in a release, adding that the decision follows “an exhaustive analysis of all available options.”

Page 1 of 354
Next Page