FBN Spins Off Global Crop Solutions Business to Focus on Digital Marketplace
Farmers Business Network (FBN) has spun off its global crop solutions business into a separate entity, Global Crop Solutions (GCS). The move allows FBN to focus on its core digital marketplace, while GCS takes over the distribution and development of crop protection products.
FBN, which serves over 117,000 farms and offers more than 7,000 products, raised $50 million earlier this year to build new AI-centric tools for customers. The separation enables FBN to concentrate on its digital marketplace, providing financial services, tools, and access to inputs and supplies.
GCS, now an independent supplier, will manage product registrations and logistics previously handled by FBN. It will also become a preferred supplier on the FBN store. This follows a similar move by Kraft Heinz, which announced a split to accelerate growth and unlock shareholder value. Corteva, an ag giant, is also separating its seed and pesticide businesses into two separately listed companies.
The separation allows both FBN and GCS to focus on their respective strengths, potentially improving services for farmers. FBN will continue to grow its digital marketplace, while GCS takes charge of crop protection product distribution and development.
