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Farm e-commerce sites link

- 07 March 2000
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7 March 2000



Farm e-commerce sites link

TWO North American agricultural e-commerce sites are expected to announce a merger on Tuesday (7 March).

The merger of US-based Farms.com and Canadas eHarvest could lead to an initial public offering later this year, reports the Financial Times.

Under the deal vTraction, the agricultural e-commerce unit launched in the USA earlier this year by Dutch co-operative banking unit Rabobank, will have a 40% stake.

The company had already acquired minority stakes in the two businesses.

vTraction, with an operating budget of $100 million this year, has invested in six e-commerce initiatives in the food and farm sectors.

According to chief executive Ejnar Knudsen, a further three deals are expected to close in the next two months.

Rabobank estimates that 10% of the annual $4000bn global food and agricultural market will be traded online in the next few years.

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