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Acquisition Impacts Local Agriculture Dealer
Twin Falls, Idaho ( KMVT-TV / KTWT-TV ) Agri–Service which has headquarters in Twin Falls opened for business in 1990. Two decades later the company has nine locations in three states. But changes are in store for the company. Change's that COO Clint Schnoor feels good about.
"AGCO came to us in 2012 and made some announcements that they wanted their dealer networks to get smaller. So that led to a series of conversations with them and some of our larger competitive dealers to come up with a plan for Idaho, Utah, Oregon, Washington that area," said COO Clint Schnoor.
That plan ultimately led Agri–Service to talks with the Terteling Company who owns Western States.
"I think there's two reasons that we were looking for a good financial manufacturer. One is that our manufacturer AGCO wanted us to grow tremendously and at a faster pace than we were able to accomplish on our own. So we looked at two things. One we were an employee owned company. So it was important to us to make sure that our employee owners were taken care of during this transaction. And at the same time we needed a capital in order to expand into the other locations that our manufacturer wants," Schnoor told us.
Agri–Service wants to ensure their customers they won't notice any chances. In fact their buyout will actually enable the company to add new products to their lineup.
"So what you will see with this acquisition is that Agri–Service will now offer the Challenger and Ag–Cam equipment lines which are RoGator and TerraGator. You'll see Western States equipment who the Terteling Company also owns exit that ag business where we have locations," said Clint Schnoor.
Agri–Service employees are optimistic about the potential changes.
"I think it's going to be a great change. It's going to give us a chance to continue to grow and there's going to be a lot of opportunities for us as a company to grow and for us as an employee for new positions to come open," said Agri-Service Employee Nick Cosinteno.
The buyout will allow Agri–Service to rapidly expand in the near future.
"You will see Agri–Service grow in the number of employees, number of locations and the geography we service," said Schnoor.
With employee owner approval, the buyout is expected to be complete by November 1st.