Brandt completes acquisition of Monterey AgResources
Brandt, a manufacturer of agricultural specialty products, announced that it has completed the acquisition of Monterey Chemical Company Inc. Monterey Chemical does business under the trade name Monterey AgResources. The transaction represents the remaining 30% of the shares of Monterey; Brandt had acquired 70% in March 2010.
“As a family company, we welcome all the Monterey employees to the Brandt family,” said Rick Brandt, CEO and president of Brandt. “With the caliber of people at Monterey, the future is incredibly bright.”
The acquisition of Monterey AgResources fits Brandt’s aggressive corporate strategy of providing superior representation, production and warehousing for customers throughout North America and around the world. The combined company is a leader in formulating, packaging and marketing specialty products and chemicals for all agriculture systems. Additionally, Brandt offers a broad range of products for the greenhouse, ornamental, turf, home and garden, aquaculture and feed markets.
“Interestingly, Monterey is celebrating its 50th year in 2013. And we’re celebrating our 60th year,” Brandt said. “Our cultures and values just naturally aligned. Monterey has always been a customer-driven company with high-integrity employees who thrive when faced with big goals. That’s exactly what we look for as we continue to expand across the country and around the globe.”
As part of the transaction, Monterey AgResources, a wholly owned subsidiary of Brandt, will be integrated into Brandt’s Specialty Formulations division, under the leadership of Specialty Formulations Executive Vice President, Bill Engel.
“I could not be more excited,” said Engel. “This is the biggest acquisition we’ve done at Brandt and I’m confident that it will provide real positives for our customers, suppliers and employees alike.”
John Salmonson, formerly president of Monterey AgResources, will remain with Brandt, providing strategic operations management and key account leadership.
“We look forward to working with John for a long time,” said Brandt. “I’m pleased to announce that John has agreed to be part of a new executive leadership team that I’m setting up to work across all of Brandt’s businesses as well as TradeMark Nitrogen.”
“I am excited that we’re now completely part of the Brandt organization and I’m looking forward to taking a strategic role for the company,” said Salmonson. “We’ve been getting ready for this integration for three years and I have to say that it just works. Separately, we were two good companies. Together, we’re going to be one great company.”
Monterey Chemical Corporation encompasses three operating units: Monterey AgResources, Creative Marketing and Research (CMR) and Lawn & Garden, Inc. The Monterey AgResources and CMR brands will be integrated into BRANDT over time. Monterey Lawn & Garden will continue to be a customer-facing brand.
Separately, Monterey Lawn & Garden announced that Bard Brown has been named vice president, Lawn & Garden, Inc. Brown, a 13-year veteran of Monterey, will be responsible for strategic direction, overall management and key account service at Monterey Lawn & Garden. Previously, he was the National Sales Manager of Lawn & Garden. Tom Thomson, currently in charge of Monterey Lawn & Garden, will retire at the end of 2013.
“This is an important strategic move for Brandt,” said Rick Brandt. “I want to thank John Salmonson and Tom Thomson for their leadership, vision and ultimately faith in the Brandt family. I am confident that our combined company is positioned to thrive and grow into the future.”