On November 27, speculation was laid to rest. Pinnacle Agriculture was not for sale, because J.R. Simplot Company made a strategic acquisition of all of Pinnacle Agriculture Enterprises, LLC and its subsidiaries. [And updated article is posted here]
This business deal will add up to more than 200 ag retail locations, a 2,700 employees (1,400 coming from Pinnacle), and more than 500 Crop Advisors across North America. It’s expected to close 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,” Doug Stone, President of Simplot’s AgriBusiness Group said in a news release. “We look forward to bringing together these complementary businesses and continuing to create value for our customers.”
“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, President and Chief Executive Officer of Pinnacle said in a news 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. We are proud of what has been created and are eagerly looking forward to what will be created with Simplot.”