J.R. Simplot Co., a CropLife 100 company headquartered in Boise, ID, has completed its acquisition of a California-based fertilizer venture.
Simplot has purchased a newly formed company which owns and will operate the business formerly conducted by Britz Fertilizers, Inc (BFI) of Fresno, CA. BFI retains a minority interest in the new venture named “Britz-Simplot Grower Solutions”. The two companies signed a letter of intent in April of this year, and closed the transaction on Oct. 6.
Both Simplot and BFI are privately held companies, so financial details of the transaction were not released. Under the agreement, BFI’s employees will remain in their positions and the new company’s senior management team will report to Dave Dufault, Simplot’s vice president and general manager, Retail Business.
Simplot operates a network of retail agricultural input farm service centers throughout the western U.S., including California’s San Joaquin Valley where BFI is located. BFI’s headquarters are in Fresno, with multiple locations throughout the valley.
According to Bill Whitacre, president of Simplot’s AgriBusiness Group, Simplot and Britz have a mutual long-term commitment to agriculture. “The key element of this entire transaction was our commitment to the Britz family of the Simplot culture of respect for employees and a focus on customer service,” he says. “The Britz family has developed a legacy over their 60 years of operation which will be protected and expanded by Simplot.”
The CropLife 100 is an exclusive community of the largest U.S. agricultural retailers cultivated by CropLife magazine. The CropLife 100 report, printed annually in the December issue, provides exclusive access to valuable sales information and market trends.