Boyer Fertilizer and Pacific Coast Ag Acquired by Nutrien Ag Solutions
Published June 1, 2021
FOR IMMEDIATE RELEASE // SEATTLE, WASHINGTON
Meridian Capital LLC (“Meridian”), a Seattle-based middle market corporate finance and M&A advisory firm is pleased to announce the successful acquisition of two of its clients, Boyer Fertilizer (“Boyer”) and Pacific Coast Ag (“PCA”) by Nutrien Ag Solutions (“Nutrien”).
A second-generation family business, Boyer is a processor, blender and distributor of branded, specialty and private label commercial fertilizers to the agricultural market. Boyer has differentiated itself by providing custom fertilizer blends that fit the specific needs of each customer’s growing operation, soil types and environmental considerations. PCA, a first-generation, entrepreneur-led business, coordinates logistics, application and custom blending of pre-plant soil amendments for vegetable and berry row crops. PCA maintains the exclusive distribution rights of organic and conventional fertilizers for Grow More™, AgroThrive™ and BioGro™.
Dave Willoughby, President of Boyer, shared, “We never could have imagined this much work would go into getting a transaction completed. We couldn’t be happier with the outcome and are very thankful we had Meridian Capital leading us through this transaction.” As part of a multi-stage transaction process, Meridian Capital assisted Boyer and PCA in completing a “virtual merger”, positioned the combined Boyer and PCA operation to the market, identified prospective buyers and assisted both companies in navigating the challenges and uncertainties of the deal.
Nutrien looks for companies that have a similar go-to-market approach, with partnerships ultimately resulting in bringing added value to their collective customers. Boyer and PCA have demonstrated through consistent growth, unique fertilizer and service offerings, and a loyal customer base, that they will be an integral part of Nutrien Ag Solutions.
Nutrien Ag Solutions is the retail division of Nutrien Ltd., the world’s largest crop inputs company. Nutrien provides full-acre solutions through a network of trusted crop consultants at more than 1,700 global locations. Nutrien helps growers achieve the highest yields with the most sustainable solutions possible, offering a wide selection of products, including our proprietary brands: Loveland Products, Inc.®, Proven® Seed and Dyna-Gro® Seed, and a diverse array of services, including application, soil testing, and precision agriculture services.
James Rothenberger, Managing Director at Meridian stated, “We’re very pleased with the outcome for Chris, Dave, Stan and Dennis. Boyer and PCA have built sustainable and profitable organizations over the past 20 years, and their brand and reputation is excellent within the California Central Coast. The acquisition represents an outstanding outcome for Boyer and PCA and allows ownership the opportunity to continue to be a part of the combined organization in a new and exciting way. Nutrien is an ideal platform for continued growth in the region.”
Eric Krienert from the Moss Adams Stockton office provided tax, estate, and advisory services as part of the transaction. Matthew Ottone from Ottone Leach & Ray provided legal services as part of the transaction.
Nutrien’s acquisition of Boyer and PCA represents continued momentum for Meridian’s Agribusiness Practice. Other recent transactions include Gar Tootelian’s acquisition of Bennett Water Systems and International Farming Corp’s acquisition of Legacy Fruit Packers.
For more information about this transaction, please contact one of the team members below:
About Meridian Capital
Founded in 1995, Meridian Capital is a Seattle-based M&A advisory firm, advising business owners on complex corporate finance, M&A and strategic challenges for over 25 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution. With a unique combination of professionals with financial, transactional, and operational expertise, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including aerospace & defense, business services, consumer, diversified industrials, food & beverage, technology, and telecommunications.