Business
Plantro Calls on Ag Growth International to Commence a Formal Sale Process of the Company to Maximize Value for Shareholders
ST. HELIER, Jersey, March 26, 2026 (GLOBE NEWSWIRE) -- Plantro Ltd. (“Plantro”), a ...
About this update from Ag Growth International Inc.
[{"type":"text","content":"Plantro Calls on Ag Growth International to Commence a Formal Sale Process of the Company to Maximize Value for Shareholders\nST. HELIER, Jersey, March 26, 2026 (GLOBE NEWSWIRE) -- Plantro Ltd. (“Plantro”), a shareholder of Ag Growth International Inc. (TSX: AFN) (\"AGI\" or the \"Company\") today called on the board of directors of AGI (the “Board”) to commence a formal sale process soliciting bids to acquire the entire Company. Following AGI’s release of its fourth quarter 2025 earnings report and restructuring plan, it became increasingly clear that the Company will continue to struggle with providing investors with transparency and articulating a go-forward vision for the Company. The magnitude of the operational transformation and balance sheet repair required is unlikely to be completed within a timeframe acceptable to public shareholders. Investors are increasingly unwilling to endure another prolonged multi-year turnaround in the public markets with uncertain outcomes. These types of decisive structural actions are more appropriately executed in a private ownership environment, where management can focus on long-term value creation without the constraints of quarterly earnings expectations and ongoing public market scrutiny. The Company’s current turnaround plan appears to be focused on cost-cutting efforts and piecemeal asset sales to raise cash, and the recruitment of a permanent CEO. Plantro believes that these cash-saving measures may potentially impair the future growth prospects of the business and are unlikely to be materially accretive to shareholders. Further, a new CEO would require several quarters to get familiar with the business and would subject shareholders to further uncertainty. Taking each of those factors into account, Plantro concluded that a sale of the entire Company in the near-term is a preferable and more certain path to maximizing shareholder value. Notwithstanding the Company’s current challenges, Plantro believes that AGI is still an attractive and valuable company to a strategic or financial buyer. AGI has a high quality core business as a global market leader in grain infrastructure products and systems. Its business is also underpinned by attractive macro tailwinds of increased food consumption and population growth. Finally, Plantro has ide...