Seven weeks after it was announced that Simplot agreed to acquire Pinnacle Agriculture, and the deal is done. Today, the company said it completed the acquisition, and Pinnacle ag retail locations would now officially be known as part of the Simplot Grower Solutions network.
Going forward, Simplot’s customer base is said to be more than 40,000 farmers and its footprint stretches across 240 locations with 4,400 employees and 500 crop advisors.
“Completing this acquisition represents a significant and important milestone for the J.R. Simplot Company, our employees, partners and customers,” Garrett Lofto, Simplot President and CEO said in a news release. “We look forward to shaping an exciting future with our new team members on board as we focus on delivering unique solutions to our customers. Strategically, this investment is another step that prepares us for a future where we can leverage our unique capabilities across the global food and global agricultural systems.”
After the acquisition was first announced, Doug Stone, President of Simplot’s AgriBusiness Group, gave AgPro this interview.
Now the acquisition is complete, he said in a news release, ““We’re thrilled to welcome Pinnacle employees, customers and partners and look forward to growing our knowledge with the addition of their insights and expertise. Our aim is to bring the best of both of these complementary businesses together to create even greater value for our customers.”
One facet that the previous Pinnacle business brings is it's footprint in the midwest and southern states. Leading the newly joined together Simplot Grower Solutions team will be vice president and general manager, Troy Bolt.
“Our combined retail store footprint increases our ability to provide leading products, services and advice to our joint customers and farm communities throughout the U.S. and Canada,” Bolt said. “By expanding our services further into the Midwest and Southern regions of the U.S., we can serve more farmers in more areas who have the important job of growing food to feed the world.”