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Furst-McNess Co. Acquired by Easy USA Holdings

2021-08-04 00:00:00




   'Perfect match’ merger based on corporate cultures, business synergies and expansion opportunities
      
  Animal feed and ingredients producer Furst-McNess Co. (FMC) announced today it has been acquired by Easy USA Holdings (Easy USA) 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, long-time 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 $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’ 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.”
      
 
      
  About Furst-McNess Co.
 Freeport, Ill.-based Furst-McNess Company is a 113-year-old closely held family owned business with a substantial presence and reputation in the American and Canadian livestock feed industry due to its pioneering innovation, strong values and time-honored client relationships. With about 300 people and twelve facilities in the Midwest and Southeast, Furst-McNess annually produces over 2 million tons of vitamin and mineral premixes, starters, commodity blends, other manufactured feeds, feed ingredients, commodities, wet brewers grain and specialty feeds throughout the United States and Canada. The company also operates a state-of-the-art research and development facility near Des Moines, Iowa, consisting of 5,200 pig spaces that can be separated into different pens and fed different feeds, allowing for control groups when evaluating and validating new products.
      
  About Easy USA Holdings
  Oskaloosa, Iowa-based Easy USA (Easy USA) is a U.S.-based subsidiary of Easy Holdings Co. Ltd. (Easy Holdings), a publicly traded, vertically integrated agricultural business with operations in feed additives, feed manufacturing, farms/livestock production, livestock processing, broiler integration and food products, and distribution in 65 countries. Based in Seoul, Korea, Easy Holdings generates more than $2 billion U.S. in consolidated annual revenues from 50 subsidiaries including five in biotechnology, five in feed solutions, five in farm solutions, five in food solutions, two investment companies and a subsidiary in the Philippines. Eight of its subsidiaries are publicly traded. It employs 4,000 people worldwide including in South Korea, the U.K., Canada, the United States and other countries. Two years ago, it made its first U.S. investment when it acquired DFS Oskaloosa, a feed mill operation in Oskaloosa, Iowa.
      
  About EASY BIO, Inc.
  Easy Bio Inc. is a livestock company spun-off from Easy Holdings in 2020, operating two divisions: Pathway Intermediates and I-feed. Pathway Intermediates is a leading global animal nutrition brand based on over 30 years of research, has overseas branches and offices in seven countries and exports products to more than 30 countries. I-feed is South Korea’s No.1 piglet feed brand, which has delivered specialized feed and nutritional solutions dedicated for piglets since 2001 and established a new standard in the South Korean swine industry. I-feed had record monthly sales of 6,000 metric ton in 2020.
      

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