On May 2, 2022, Deveron Corp., an agriculture technology firm, completed the acquisition of a 67% stake in A&L Canada Laboratories East, Inc. for a total consideration of $64.17 million, comprising $54.6 million in cash and $9.57 million in Deveron common shares. The transaction allows Deveron an option to acquire the remaining 33% of A&L, a soil and tissue laboratory company, three years post-deal closure.

Financial and legal advisories for Deveron were provided by TD Securities and Irwin Lowy, respectively. David MacMillan, Deveron's President and CEO, described the acquisition as transformative, emphasizing the creation of a unique, fully integrated agricultural data company in the market. He highlighted the move's alignment with Deveron's ambition to become a leader in laboratory and agronomist services in North America.

Greg Patterson, the founder, president, and CEO of A&L, noted the company's 35-year commitment to providing unbiased data and analytical recommendations for sustainable and ecological farming practices. He expressed enthusiasm for the merger's potential to enhance value for customers and extend A&L's product offerings through Deveron's expanding U.S. customer base.

Patterson is set to continue in his roles as President, CEO, and director of A&L. Additionally, he is expected to join Deveron's Board of Directors, further solidifying the partnership between the two entities.