*Update – Inocucor has announced it will change its name to Concentric Ag Corporation.

In a move to develop new products that enhance crop potential by combining the benefits of biologicals and plant nutrients, Inocucor Corporation has acquired Manitoba, Canada-based ATP Nutrition. Terms of the acquisition were not disclosed.

ATP supplies plant nutrients to canola, soybean, corn, pulse, and cereal growers throughout North America. While it will continue to operate independently, a key result of the acquisition will be the collaboration between the company’s respective R&D teams to develop products that enhance the genetic potential of the crop by combining biologicals and plant nutrition. Products will be formulated based on plant type, geography, and soil conditions.

“The combination of biologicals, such as Inocucor’s SYNERGRO^® and SYNERGRO FREE™, with plant nutrients in ready-to-use combinations is unique in the ag sector,” said Donald R. Marvin, president and CEO of Inocucor. “This strategic partnership is the first major step toward Inocucor’s vision to offer a broad range of products that support farmers across their crop nutrient and biological needs.”

In January, Inocucor announced a second close to its Series B funding round, bringing the total to US$38.9 million. Pontifax AgTech led the additional funding with US$9.5 million. Earlier participants included TPG Alternative and Renewable Technologies (TPG ART) – a late stage, growth equity venture vehicle managed by alternative asset firm TPG; Closed Loop Capital – a venture capital firm focused on early stage funding of agtech and food system innovations; Desjardins Innovatech, the venture capital unit of Desjardins, one of the top cooperative financial groups in Canada with more than $200 billion in assets; and Montreal-based Cycle Capital Management – a clean tech venture capital firm that has been an early investor in Inocucor since 2013.

David Nitchman, GAI Media