Bloomington,
Minnesota
November 2, 2000
The momentum continues to grow with
today's announcement that The Andersons, Inc. (Nasdaq: ANDE), Bunge Corporation,
IMC Global Inc. (NYSE: IGL) and
Louis Dreyfus Group have become strategic investors in
Rooster.com(SM), agriculture's leading e-business network.
"The addition of this group of diverse investors reinforces the direction that we are taking in building
an open, unbiased marketplace,'' explains Gary Carlson, president and chief executive officer of
Rooster.com. "It also dramatically moves us closer to our goal of facilitating relationships that
deliver value-added solutions to participants across the agricultural community.''
Rooster.com offers dealers, distributors and elevators a simple, turnkey approach to support
traditional business relationships online, with all the advantages of being in a high-traffic electronic
agricultural marketplace. Through its innovative eBusiness Center concept, Rooster.com offers
dealers and distributors the opportunity to build their own e-business solutions while enhancing their
customer interface.
"The breadth and expertise of these new partners dramatically enhance Rooster.com,'' Carlson
says. "The Andersons is a major distributor of crop nutrients to dealers and has a significant
farm-gate crop marketing presence that will help Rooster.com develop localized solutions for the
agricultural community. Bunge's vast knowledge of global markets for food and feed will help ensure
our systems meet the needs of processors, millers and bakers. Louis Dreyfus' international scope will
help Rooster.com develop its international expansion. IMC Global, the premier fertilizer company in
the world, will help Rooster.com build our capabilities for supporting the fertilizer and animal feed
segments.''
Mike Anderson, president and chief executive officer of The Andersons, Inc., says the investment in
Rooster.com reflects the company's desire to play a major role in the development of e-commerce in
U.S. agriculture. "The Andersons has a history of innovation. We're excited about the opportunity
to participate in, and have an influence on, the electronic marketplace. Based on our analysis, we
believe Rooster.com is positioned to be the premier agricultural e-business model, and we want to
be part of it,'' says Anderson. "This e-commerce investment will enhance our efforts to maximize
value for our customers and shareholders.''
"Following an exhaustive review of a number of Web-based technologies designed to support the
efforts of U.S. producers to remain competitive in the global marketplace, Bunge came to the
conclusion that Rooster.com offers the best opportunity for our producer-customers to harness the
Web in order to enhance the value of their production,'' says John Klein, president and chief
executive officer of Bunge Corporation.
"Our Rooster.com partnership fits well with our key objectives to establish e-commerce programs
throughout our value chain by early 2001 to enhance customer service, achieve higher levels of
efficiency and strengthen procurement ties to our major suppliers,'' says Larry L. Shoemake, vice
president of shared services and e-commerce for IMC Global. "This investment demonstrates our
alignment with the right business partners in the fast-growing electronic B2B segment to add
shareholder and customer value, further leverage the strength and high recognition level of the IMC
brand name, and reinforce our overall industry leadership. Rooster.com will be a strong,
complementary avenue to IMC's own e-connections for our current domestic fertilizer and animal
feed customers to conduct business more easily with us. As an innovative and neutral exchange site
for the entire supply chain, Rooster.com is the most comprehensive agribusiness e-business model in
the marketplace today with an investor base of the leading companies in the agricultural industry.''
Bruce Ritter, executive vice president for Louis Dreyfus Corp., says,
"Louis Dreyfus believes
utilizing the right Internet platform will allow us to better serve the needs of our business partners.
We recognize Rooster.com as the leading agricultural e-business site in North America. It is only
natural, given our business goals, for Louis Dreyfus to work with and invest in Rooster.com to
ensure that we can efficiently provide value-added services to that segment of the market.''
Morgan Stanley Dean Witter is providing financing and advisory service to Rooster.com as it
actively pursues additional industry partners.
The Andersons, Inc. is a respected leader and prominent regional player in grain merchandising. Its
strong position in this basic business has allowed the company to diversify into other agribusiness
operations, railcar leasing, turf care product manufacturing and distribution, and general merchandise
retailing. The company has been in operation since 1947. The Andersons, Inc. is located on the
Internet at http://www.andersonsinc.com
Bunge Corporation, the North American operating arm of Bunge International Limited, is a vertically
integrated food and feed ingredient company, supplying raw and processed agricultural commodities
and specialized food ingredients to a wide range of customers in the livestock, poultry, food
processor, foodservice and bakery industries. With headquarters in St. Louis, Mo., Bunge
Corporation operates grain elevators, grain and oilseed processing plants, edible oil refineries and
food processing facilities in the United States, Canada and Mexico.
IMC Global is the world's largest producer and marketer of concentrated phosphates and potash
fertilizers for the agricultural industry. With 1999 revenues and gross cash flow of $2.4 billion and
$659.0 million, respectively, IMC also is a leading global producer and seller of feed ingredients for
the animal nutrition industry and the world's third-largest manufacturer of salt for a wide range of
applications. For more information, visit IMC Global's Web site at
http://www.imcglobal.com.
The Louis Dreyfus Group, based in Paris, has been an innovative leader in international
commodity markets for 150 years. It provides value-added services to both producer and buyer, moving
agricultural products from the farmer to the consumer in an efficient and effective way.
Diversified activities of the Group include processing, manufacturing, shipping, real estate development and
telecommunications. For more information, visit the Louis Dreyfus Web site at
http://www.LouisDreyfus.com.
Rooster.com is an online "click and mortar'' marketplace for the agricultural community, where
producers can utilize the Internet to market their crops and buy their seed, fertilizer, crop protection
products, equipment and other supplies. Available 24 hours a day, seven days a week, Rooster.com
provides a one-stop shop connecting producers, dealers and manufacturers with new marketing
opportunities. Rooster.com is an independent company headquartered in Bloomington, Minn. For
more information, please register online at http://www.rooster.com
or call 877-865-2531.
Company news release
N3095 |