Farm e-commerce sites link
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.
- www.Farms.com
- www.eHarvest.com
- www.vTraction.com
- Financial Times 06/03/2000 page 30