In a move set to transform the future of digital agriculture, Wheatsheaf Group, a leading global investor and developer of agricultural technology (AgTech) businesses, has completed an £8m transaction for a minority stake in AgriWebb, the Australian market leader in livestock farm management software.
The deal includes AgriWebb’s acquisition of the UK-based livestock and dairy software FarmWizard.
AgriWebb is now positioned to enhance its advanced cloud-based farm management product suite that will consolidate with FarmWizard’s leading dairy and individual animal management functionality.
With the digitisation of agriculture on the rise, this product combination will establish a groundbreaking comprehensive solution to solve both the ongoing needs of livestock producers and deliver food provenance for end-to-end supply chain enterprises; realising AgriWebb’s mission to help the sector become more trusted, efficient and productive.
Chairman and co-founder of AgriWebb, Justin Webb, said: “AgriWebb’s mission is to enable the agriculture sector to enhance its offering through digital technologies. Farming in the UK represents a significant part of the economy, providing 61% of the raw materials for the wider UK agri-food industry, contributing £10Bn to the economy and employing over half a million people.”
Mr Webb continued: “Combining the capabilities of AgriWebb and FarmWizard will provide both the best data-driven decision tool for farmers and the best supply chain provenance platform for advisors, processors and retailers. Wheatsheaf Group will add to this offering through deep expertise in how agricultural business can become more efficient and by enabling AgriWebb to collaborate with UK farmers, processors and retailers.”
Wheatsheaf Group is a leading global investor and developer of innovative food and AgTech businesses, which contribute enduring solutions to help meet the food requirements borne out of the increasing demands of a changing global population.
Anthony James, COO of the Wheatsheaf Group, said: “At Wheatsheaf we take an innovation-led approach to identifying, investing in and helping to develop product or service-led companies that have the potential to make a material difference in improving the efficiency of food production. We see AgriWebb as a global leader in farm management technology and look forward to working with the AgriWebb team to further our mutual goals of improving livestock production around the world.”
Terry Canning, founder and CEO of FarmWizard, said: “Over the last 14 years, we have built a platform that allows both farmers and processors to digitise their business and generate production efficiencies. With this deal, our customers will enjoy improved support and product enhancements from the AgriWebb platform.”
Co-founder and CEO of AgriWebb, Kevin Baum, concluded: “We are extremely excited at the opportunity this deal presents for AgriWebb and for the global future of digital agricultural management. The FarmWizard team has already done an exceptional job in the UK market, and we’re excited about what we can achieve by bringing the teams and products together.”