In a landmark deal that is set to redefine the landscape of Tasmania’s potato industry, Simplot has announced its plans to acquire Agronico, Tasmania’s largest seed potato producer, as Potato Business reports.
The acquisition, which encompasses both the business and real estate holdings of Agronico, awaits regulatory green lights, including a crucial clearance from the Foreign Investment Review Board (FIRB).
Upholding a Rich Legacy
Judith Shaw, the present owner of Agronico, has voiced her full confidence in Simplot’s capabilities to sustain and enrich the company’s longstanding legacy. “Founded by Julian Shaw with a relentless passion for Tasmanian agriculture and a 35-year focus on research and development, we are assured that Simplot will honor and continue this commitment,” Shaw remarked.
She further added, “Simplot’s organizational values resonate closely with ours, offering numerous avenues for employee career advancement and development. It is particularly gratifying for Agronico to become part of an entity that is deeply committed to the long-term sustainability of Tasmania’s potato industry.”
Pioneering Agricultural Innovation
Agronico has carved a niche for itself in the agricultural domain through its innovative adoption of hydroponics, thereby significantly amplifying its output. The company is among Australia’s few large-scale suppliers of minitubers, covering both proprietary and non-proprietary cultivars.
Boasting an annual yield of 8,000 tonnes of seed potatoes and approximately 25,000 tons of minitubers, Agronico has established an industry benchmark.
The Road Ahead
The impending acquisition poses several intriguing questions concerning the future trajectory of both Agronico and Simplot, as well as the broader Tasmanian potato industry.
Will Simplot encounter regulatory hurdles from the FIRB? How will Agronico’s pioneering use of hydroponics shape Simplot’s future agricultural strategies? As the deal unfolds, these questions are poised to dominate industry dialogues.
Source: Potato Business
