The J.R. Simplot Co., a privately held food and agribusiness company headquartered in Boise, Idaho, has agreed to acquire all of the interests in Pinnacle Agriculture Enterprises LLC and its subsidiaries. The acquisition will bring together two distributors of agricultural crop inputs and related services. The target acquisition close date is in early 2020.
“By combining our geographic footprint and shared commitment to service, we will better serve customers in some of the most important agricultural communities in the world,” Doug Stone, president of Simplot’s AgriBusiness Group, said in a news release.Simplot’s AgriBusiness focus is rooted in phosphate expertise, technology, innovation, retail distribution and agronomic knowledge.
“The completion of our strategic alternatives review has created an exciting opportunity for our employees, customers and the industry with Pinnacle joining the Simplot family,” Rob Marchbank, Pinnacle president and CEO, said in the release. “Building upon the strong legacy foundation and our focus on being the best locally first, the combination of the two companies provides and reinforces our commitment to taking care of our customers and our employees.”
The combined footprint of Simplot Grower Solutions and Pinnacle stores will grow to more than 200 locations across North America, with approximately 2,700 employees and more than 500 crop advisers.