Springfield Business Journal_2019-02-25

SPRINGFIELD BUSINESS JOURNAL · 3 FEB. 25-MARCH 3, 2019 NEWS by Kyle Boaz · kboaz@sbj.net As officials with American Dehydrated Foods LLC and Symrise AG move toward closing on one of the largest business sales in Springfield history, the German- based company sent a French executive to Springfield on Feb. 13 for a closer look. Jean-Yves Parisot took time out of his schedule full of employee meetings, and still feeling a little jet lag from his flight from France, to sit down with Springfield Busi- ness Journal in an ADF/IDF conference room to talk about the impending $900 million acquisition. Parisot is the president of Symrise’s nutrition division, which also came into the fold via an acquisition, this one of France-based Diana Group for $1.8 billion in 2014. “My objective is to come here to an- swer questions people might have about how Symrise is organized, how Diana is organized, [and] what is our vision be- cause we are really sharing the same vi- sion with ADF/IDF,” Parisot said of his visit. Parisot said the vision is to strengthen the pet food and nutrition divisions of Symrise, a publicly traded company on the OTC Markets Group, under the ticker symbol SYIEY. “For us, it’s an important move into pet food,” he said. “It will be a two-legged ac- tivity and, at the end of the day, to provide to the customer a much better offer and a much better service.” Once the purchase closes, Parisot said, ADF/IDF would work with the nutrition and flavor divisions of Symrise. Parisot said there hasn’t yet been any discussion about future roles for current ADF executives or how the future board of directors would be struc- tured. “The idea is to have the teams work after the clos- ing, sitting together, and de- fine what could be the best target organization for both ADF/IDF and Diana,” he said. “I cannot tell you anything about titles, but I can tell you everything will be done in full respect of people for the ben- efit of the customers.” Currently at ADF, which recorded $220 million in 2018 revenue, Andrew Herr is president and CEO, and Kurt Hellweg is chairman of the board. “This opportunity allows our entities to benefit from the resources and exper- tise offered by Diana and Symrise due to the strength of their network,” Hellweg said in a statement emailed to SBJ. “This will result in further enhancement of our customer platform and a strengthened in- ternational footprint. The cultural values of our companies are very similar, and we feel that this opportunity is a very god fit for our associates, our customers and our IN THIS ISSUE Kuat Racks, led by president Luke Kuschmeader, is in a new home in Partnership Industrial Center West. PAGE 5 An estimated 500,000 people have visited Fritz’s Adventure in Branson in its first two years. PAGE 6 Vol. 39 No. 32 Guest columnist Francine Pratt encourages employers to hire out side the comfort zone. OPINION PAGE 53 We’re handing out job applications at the maternity wards now.” —Springfield ReManufacturing Corp. General Manager Chad Myers, on the shortage of manufacturing workers Page 10 QUOTE OF THE WEEK by Mike Cullinan · mcullinan@sbj.net As officials with the United States and China officials meet this month to try and resolve a long-running trade war, the im- pact of tariffs between the two countries is minimal in the local agriculture industry. Fourth-generation cattle producer Glen Cope, who runs Aurora-based Cope Farms, along with brother Matthew and their parents O.D. and Pam, said he keeps up on trade war updates in the news as well as agriculture policies that affect farmers and ranchers. In retaliation to tariffs President Donald Trump’s administration placed on U.S. imports from China early last year, China put tariffs on a number of U.S. agri- cultural commodities, including soybeans, alfalfa and corn. However, beef was not among the goods China targeted – a relief for cattle farmers like Cope, who was born into the industry and has made a living helping raise 600 cows on nearly 3,000 acres. He’s an advo- cate for the tariffs the White House leveled against China, as he sees it as a method to achieving fair free trade. “Free trade is important to the beef provided by KIM MCCULLY-MOBLEY Despite tariffs impacting the agriculture industry, Glen Cope, a fourth generation cattle producer at his family’s 3,000-acre farm in Aurora, says it’s business as usual for his operation. See TRADE on page 48 See ADF on page 57 Unscathed Amid Trade War Some local agriculture operations have divergent opinions of U.S.-China tariffs Symrise executive visits ADF office German company’s president of nutrition begins preparation for the closing of the $900 million sale Jean-Yves Parisot was in Springfield Feb. 13 to meet with employees and answer questions.