‘Perfect match’ merger based on corporate cultures, business synergies and expansion opportunities
Animal feed and ingredients producer Furst-McNess Co. (FMC) has been acquired by Easy USA Holdings of Oskaloosa, Iowa.
A renowned, family-owned livestock nutrition company founded in 1908, FMC has 12 major facilities in eight states and Canada selling young animal feeds, premixes and specialty ingredients. The company will retain its name and continue to operate as a stand-alone business, receiving financial, talent and other resources from Easy USA.
No jobs are expected to be affected by this combination; to the contrary, FMC is hiring and looking to bring on board even more talent in the months ahead. Meanwhile, longtime company leader Ned Furst will continue to be involved as honorary chairman of the board.
“We are a ‘hands-off’ type of owner and are here to assist Furst-McNess in expanding its product offerings and distribution, both in North America and internationally,” says Stevenson Hwang, CEO of Easy USA Holdings. “Furst-McNess is a highly respected brand built upon more than a century of solid business capabilities, unique competencies and active corporate values. We look forward to learning from it, working with so many talented people, and supporting the company for additional growth.”
Easy USA is a newly formed subsidiary of Easy Holdings Co. Ltd. (Easy Holdings), a US$2 billion publicly traded, international animal feed nutrition and feed mill organization with operations in feed additives, feed manufacturing, farms/livestock production, livestock processing, broiler integration and food products, and distribution in 65 countries. FMC is expected to realize new growth opportunities especially through another Easy Holdings subsidiary called Easy Bio Inc., which delivers to more than 30 countries feed additives and specialized piglet feeds. Hwang is also CEO of Easy Bio.
“Easy USA brings to Furst-McNess significant international distribution channels, financial resources and a new range of product ingredients and products we can now offer in North America,” says FMC Board Chairman Eddie Wells. “Conversely, FMC provides Easy USA with a substantial presence in the U.S. animal nutrition industry from which it can now expand. Perhaps best of all, both companies have strong values and workplace cultures that complement one another. When it comes to mergers, it’s a perfect match.”
For example, Furst-McNess’s “Our Culture” is very similar to Easy USA’s culture in that it focuses on never settling for average or good is enough; earning trust through our actions; delivering on our commitments; and investing in professional and personal development.
“The McNess culture is something we take great pride in,” says Mark Poeschl, Furst-McNess president and CEO. “Easy USA brings a wealth of industry knowledge, resources and global connections. Yet it also brings a culture that is similar to ours. And when it comes to what makes a business successful, it’s people and their values. Combining the cultures and talents of McNess and Easy USA, along with the impressive portfolio of nutritional products each company offers, creates great synergies that our leadership team sees as invaluable as we move forward.”
Says Hwang: “Easy Holdings and Furst-McNess share the vision of never settling in the present and constantly challenging ourselves. Along with this acquisition, we will continue to strengthen our capability in the North American and global animal industry.”