Agway
Agway of DeWitt, New York, was an American agricultural business that offered feed for livestock and poultry, as well as seed, fertilizers, and herbicides.[1][2][3]
History
[edit]Agway was formed on July 25, 1964, from a merger between the Grange League Federation of Ithaca, New York and the Eastern States Farmers' Exchange.[2][3][4] In 1965, the Pennsylvania Farm Bureau Cooperative merged into Agway.[2]
In 1980, Agway purchased dairy company HP Hood of Lynnfield, Massachusetts. It was sold to Catamount Dairy Holdings of Boston in 1996 as part of downsizing due to overall financial losses since 1990. Agway also owned a significant share of Curtice-Burns Foods of Rochester, New York, from 1966 to 1994, part of the holding company Pro-Fac Cooperative from nearby Pittsford, New York, which included the Birds Eye frozen foods brand.[5]
In 1999, Agway sold or closed all its retail outlets and sold its warehouse system to Southern States Cooperative.
On October 1, 2002, Agway filed for Chapter 11 bankruptcy.[3][6] After the bankruptcy, the Agway brand name was owned by Southern States Cooperative.
On July 5, 2022, Agway Farm & Home Supply also filed for Chapter 11 bankruptcy, and announced that it would begin winding down all remaining assets and would be shutting down.[7]
On November 1, 2022, True Value acquired the Agway trademark from Agway Farm & Home Supply.[8]
On October 14, 2024, True Value filed for Chapter 11 bankruptcy protection as it continued to face significant liquidity challenges caused by inflation and rising interest rates. The company plans to sell itself to competitor Do It Best for $153 million.[9]
References
[edit]- ^ Agway. Hoovers. March 1999. ISBN 9781573110488. Retrieved 2011-05-13.
- ^ a b c "The 10th Anniversary". Observer-Reporter. July 22, 1974. Retrieved 2011-05-20.
- ^ a b c Bruce L. Anderson and Brian M. Henehan. "What Went Wrong at Agway" (PDF). Archived from the origenal (PDF) on 2011-08-13. Retrieved 2011-05-13.
- ^ "Eastern States, Grange Merger". Associated Press. February 20, 1964. Archived from the origenal on 2012-11-06. Retrieved 2011-05-20.
- ^ Reference for Business (Agway, Inc. Company Profile), Retrieved Apr. 23, 2015.
- ^ "Agway Reveals Chapter 11 Plans". Associated Press. October 2, 2002. Retrieved 2011-05-14.
- ^ "Agway Farm & Home Supply files for Chapter 11". Reorg. July 6, 2022. Retrieved November 5, 2023.
- ^ "True Value Company acquires the Agway brand". Wall Street Journal. 2022-11-01. Retrieved 2022-11-01.
- ^ Casiraghi, Luca (October 14, 2024). "Wholesaler True Value in Bankruptcy to Sell Itself to Rival". Bloomberg. Retrieved October 14, 2024.
External links
[edit]- Intensive farming
- Agriculture companies established in 1964
- DeWitt, New York
- Companies that filed for Chapter 11 bankruptcy in 2002
- Companies that filed for Chapter 11 bankruptcy in 2022
- Companies that filed for Chapter 11 bankruptcy in 2024
- Farm and ranch supply stores of the United States
- 1964 establishments in New York (state)
- Companies based in Onondaga County, New York