Boise, ID, Jan. 17, 2020 (GLOBE NEWSWIRE) -- The J.R. Simplot Company, a privately held food and agribusiness company headquartered in Boise, Idaho, announced it has finalized the acquisition of Pinnacle Agriculture. The acquisition, first announced in November, unites two market leaders in the distribution of agricultural crop inputs and related services.
“Completing this acquisition represents a significant and important milestone for the J.R. Simplot Company, our employees, partners and customers,” said Garrett Lofto, Simplot President and CEO. “We look forward to shaping an exciting future with our new team members on board as we focus on delivering unique solutions to our customers. Strategically, this investment is another step that prepares us for a future where we can leverage our unique capabilities across the global food and global agricultural systems.”
Simplot’s AgriBusiness Group now has more than 240 crop input locations throughout the U.S. and Canada with more than 4,400 employees and 500 crop advisors. In total, the Company now provides products and services to more than 40,000 North American farmers.
“We’re thrilled to welcome Pinnacle employees, customers and partners and look forward to growing our knowledge with the addition of their insights and expertise,” said Doug Stone, President of Simplot’s AgriBusiness Group. “Our aim is to bring the best of both of these complementary businesses together to create even greater value for our customers.”
The conclusion of the Pinnacle Agriculture acquisition represents a significant opportunity to bring the combined capabilities of Simplot and Pinnacle to growers, ensuring they receive the highest quality advice, products and services. The combined Pinnacle and Simplot teams will operate as Simplot Grower Solutions, led by Vice President & General Manager Troy Bolt.
“Our combined retail store footprint increases our ability to provide leading products, services and advice to our joint customers and farm communities throughout the U.S. and Canada,” Bolt said. “By expanding our services further into the Midwest and Southern regions of the U.S., we can serve more farmers in more areas who have the important job of growing food to feed the world.”
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About Simplot
The J.R. Simplot Company, a privately held agribusiness firm headquartered in Boise, Idaho, has an integrated portfolio that includes phosphate mining, fertilizer manufacturing, farming, ranching and cattle production, food processing, food brands, and other enterprises related to agriculture. Simplot’s major operations are located in the U.S., Canada, Mexico, Australia, South America and China, with products marketed in more than 60 countries worldwide. The company supports 4R Nutrient Stewardship – using the right source of fertilizer at the right rate at the right time and in the right place. This is a cornerstone to Simplot’s mission of Bringing Earth’s Resources to Life. For more information, visit www.simplot.com.