b'The more opportunities we have toTheres all these new opportunitieswhat problems you are trying to solve. get on the farm and talk about the solu- and companies looking for new partner- That keeps us pretty grounded, and tions and variety of solutions only helpsships that are just great family-run firms reminds us of our independentness, he growers, he adds. We can go to a dairybut you have to realize, you have to sticksays. farmer in Wisconsin that grows soybeansto something where you can extract someFor Robinson and Rob-See-Co, its and corn and talk to them about alfalfasynergies, he says.about maintaining some of the independ-or even triticale. The choice isnt just aInstead of looking at cost-cutting,ent values and business strategies. big-name brandwe can offer a varietySteen looks at synergies that can reallyWe emphasize being independently of solutions that makes the most senseboost the company. owned and family-owned, Robinson agronomically for the farmer. These col- But, its also about networking, makingsays. But, we operate in an independent laborations and acquisitions have allowednew friends in the industry and findingfashion. Theres speed in decision making us to do that much better than we couldwho fits into your company values as well. and flexibilitywe focus on not being have independently as each brand. Theres a lot of similarity betweenbogged down with bureaucracy, since But, for the companies that Legacypeople in the Midwest, Robinson says.were not part of a larger company.Agripartners acquired, its more thanWe really try to get to know the manage- But above all, focusing on relation-diversity. It provides more long-term plan- ment team through discussions prior to anships is incredibly important to maintain ning for the future. acquisition and get to know the rest of theindependentness.Once the reasons for acquisitions haveteam through due diligence to get a realWe all know each other, we have been established, from there, its all aboutsense for the company. good relationships and were developing identifying the right partner for the job.Finding that commonality in values,relationships with the new companies and helps in the long run to smooth the transi- new people joining us. Those relationships Looking for the Right Partner tion of an acquisition. are incredibly important, and overcommu-Finding the right business to partner withWhen you feel that you have a lot ofnicating so your team understands where might not always be something straight- commonalities, that really helps thingsyoure headed, what youre doing and why forwardit could take a few years ofwork well, he adds. youre doing it is important. discussion, and in a lot of cases, a fewDetermining if you have a similarAnd for Foor, its all about focusing years of building a relationship beforecompany culture helps in the long run foron the No. 1 goal for all companies: your the idea of acquisition even comes to thesmoother transitions as well.customer.table. But, finding a strategic fit is impor- You dont need exactly the sameThe critical aspect to manage as a tant for the growth and productivity of anculture, but some elements that arecompany growseither organically or independent acquisition. similar, says Foor. Finding strong align- through acquisitionis maintaining the To start, its all got to fit into the strat- ment through a culture thats focused onneeds of our customers, he says. That egy of the business. working hard and having fun while you doway, they see the positive changes from Were not going to try to find a riceit helps with what you want to build. that growth. Collaborations through company in Louisianait just doesnt fitmergers and acquisitions are really because were focused largely on foodMaintaining Independence Throughimportant, especially in the specialty seed and feed solutions in the upper Midwest,Growth sectorit keeps your business relevant Steen says. Were going to stick to whatsAs independents look to grow andand thriving. But ultimately, it all goes important to us, what our mission andexpand through acquisitions, theres onlyback to your relationship with the cus-what our values are as a company. one last question left to address: how dotomerhopefully the customers are ben-Considering geographic fits and mini- you maintain independence when yourefitting from a better experience through mizing any overlap with your existing salescompany continues to grow larger? the evolution of your business.force is important, says Robinson.Its a challenge, and its made harderIn the future, Steen believes theres You dont want a lot of duplicationby the fact that sometimes the legalgoing to be more change and more part-of people on top of other peoples jobs,agreements we have with certain suppli- nerships in the industry. because no one will end up happy in thaters dont allow for companies to remainTheres been lots of change this case, he says. You want to look for part- independent, Steen says. For me, itsyear, and therell be more to come in the ners in areas where you dont really have aremembering where you came from. future, Steen says. In the future, were presence or your presence is so light thatSteen believes when you keep in mindgoing to see a lot of partnerships between the risk of overlap is low. the founders of the companyin hislike-minded companieswhether thats Occasionally, Steen says this can becase, the original three founders of Legacyin sharing warehouse expenses, teaming challenging, especially when you want toSeeds, or John Diehl at DF Seeds itup on production to improve margins or open your doors to businesses with thehelps to remember where you started,full blown acquisitions.SWsame values. why the company was established and 14/ SEEDWORLD.COMJANUARY 2023'