The J.R. SIMPLOT COMPANY AGREES TO ACQUIRE PINNACLE AGRICULTURE
Boise, ID, Nov. 27, 2019 (GLOBE NEWSWIRE) — The J.R. Simplot Company, a privately held food and agribusiness company headquartered in Boise, Idaho, and Pinnacle Agriculture Holdings, LLC, a leading agricultural retailer, have announced Simplot’s agreement to acquire all of the interests in Pinnacle Agriculture Enterprises, LLC and its subsidiaries. The acquisition will bring together two market leaders in the distribution of agricultural crop inputs and related services. The target acquisition close date is in early 2020.“We’re thrilled to welcome Pinnacle employees, customers and partners. 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,” said Doug Stone, President of Simplot’s AgriBusiness Group. “We look forward to bringing together these complementary businesses and continuing to create value for our customers.”The core values of Simplot, Passion for People, Spirit of Innovation, and Respect for Resources are as relevant now as they were when J.R. “Jack” Simplot began his Company in 1929. Simplot’s AgriBusiness focus is rooted in phosphate expertise, technology, innovation, retail distribution and agronomic knowledge to provide the safest, highest-quality products and services to its customers. The company continues to invest significant resources to ensure their operations are sustainable and environmentally friendly for generations to come.“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,” said Rob Marchbank, President and Chief Executive Officer of Pinnacle. “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. We are proud of what has been created and are eagerly looking forward to what will be created with Simplot.”The combined complementary 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 Advisors.###################About SimplotThe 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. About PinnaclePinnacle Agriculture is a leading agricultural retail and wholesale distribution business. Headquartered in Loveland, Colorado, the company operates through Pinnacle Agriculture®, Sanders®, AgVenture® Pinnacle, and Meridian Agriculture Distribution™ and serves farmers across 26 states. Pinnacle’s approximately 1,400 employees support customers across its multifaceted operations, which include seed production and sales, agricultural chemical distribution, bulk handling of fertilizer, precision agriculture services and general merchandise for farming.Josh Jordan
The J.R. Simplot Company
208-780-7228
josh.jordan@simplot.com
The J.R. Simplot Company
208-780-7228
josh.jordan@simplot.com
Emily Slyter
Pinnacle Agriculture
970-808-9826
Emily.Slyter@Pinnacleag.com