Key facts
- Bartlett and Shell Rock Soy Processing LLC (SRSP) plan to merge their soybean crush operations.
- The new joint venture will adopt Bartlett's branding and leverage SRSP's industry experience.
- The combined business will operate crush plants in Cherryvale, Kansas, and Shell Rock, Iowa.
- The transaction is expected to be completed by January 2027, pending closing conditions.
- Both companies emphasized continuity for employees, customers, and suppliers during the integration.
Bartlett, a Savage Company, and Shell Rock Soy Processing LLC (SRSP) have announced plans to combine their soybean crush businesses. The companies stated that the joint venture aims to achieve long-term growth while maintaining the operational strengths and existing relationships of both organizations.
The combined entity will operate under Bartlett's established branding, drawing on its 118-year history in sourcing, processing, and transporting grains and oilseeds. It will also integrate SRSP's extensive experience in the oilseed crush industry. Both companies highlighted that their respective crush plants are designed with the capacity to double their current output, presenting significant growth potential for the joint venture.
Geographic diversification is also a key aspect, with Bartlett's plant located in Cherryvale, Kansas, and SRSP's in Shell Rock, Iowa. This arrangement is expected to mitigate operational risks and differentiate the destination markets for their products.
Bob Knief, executive director of Bartlett, expressed enthusiasm for the partnership, stating that SRSP fits well within the Bartlett network and will create growth opportunities, efficiencies, and resilience. Corey Jogenson, CEO of SRSP, echoed these sentiments, emphasizing the complementary nature of the two organizations and their shared purpose of connecting U.S. farmers to markets for food, feed, and renewable fuels.
The business combination is subject to due diligence by both parties and the satisfaction of closing conditions, with an expected closing date by January 2027. Both companies assured that their facilities will continue operating and that employees, customers, and suppliers will experience continuity throughout the integration process.