MARCH 4-10, 2024 26 · SBJ.NET NEWS 417-895-2770 foundationcreditunion.com *Subject to approval. Member must be in good standing. Rates vary with term and credit history and subject to change. Other terms and conditions may apply. Credit union membership required. provided by HIGH PROFILE MO FACEBOOK PAGE by Geoff Pickle · gpickle@sbj.net A 3-year-old beef processing plant in Pleasant Hope has suspended operations. A Missouri Prime Beef Packers statement issued to Springfield Business Journal by corporate spokesperson Justin Furnace indicates the 5305 Highway H facility in Pleasant Hope closed temporarily on Feb. 26. “This unforeseen decision stems from operational challenges at the facility related to wastewater management and persistently unfavorable market conditions,” the statement reads. “We understand the disappointment felt by our employees, community members, customers and partners, yet we remain committed to overcoming these obstacles swiftly and efficiently.” Missouri Prime Beef Packers, which last year sought state approval to discharge treated wastewater into the Pomme de Terre River, withdrew its request in January amid environmental concerns, according to reporting by the Missouri Independent. “Our team will continue to work closely with the Department of Natural Resources to address the wastewater challenges faced by this facility,” the Missouri Prime Beef Packers statement reads. “By doing so, we aim to resume operations and once again contribute to the economic growth of the community.” A timeline was not provided in the statement. Missouri Prime Beef Packers disclosed the plant closure in a Feb. 26 Worker Adjustment and Retraining Notification Act filing. The filing indicates 335 employees are impacted. The 100,000-square-foot plant opened in early 2021, and Gov. Mike Parson was among officials who attended a ribbon-cutting ceremony for the facility, according to past SBJ reporting. Missouri Prime Beef Packers last year was purchased by Corpus Christi, Texas-based STX Beef Co. LLC, a subsidiary of private investment firm JDH Capital, SBJ previously reported. • Operations suspended at Pleasant Hope beef processing plant by SBJ Staff · sbj@sbj.net Two Springfield companies have ranked among the fastest growing in the Midwest on the annual Inc. Regionals list. Epic Strategies LLC and ACIS IT Solutions are the local companies on the list from Inc. magazine released in late February. The Midwest region comprises Missouri, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin. The list ranks companies based on percentage growth that compares 2020 revenue to that of 2022, but sales were not disclosed. Companies on the Inc. Regionals list must have at least $100,000 in 2020 revenue and at least $1 million in 2022 revenue. Epic Strategies, a full-service marketing agency, ranked No. 99 in the Midwest, with 118% revenue growth. The company last year was No. 8 on Springfield Business Journal’s fast-growth Dynamic Dozen list, with revenue reported at $6.4 million in 2022 and over 200% three-year revenue growth. “I know what our company has in the pipeline, and I see it on the horizon. The growth isn’t going to stop,” said John Scroggins, chief of staff for the company, in its May 2023 Dynamic Dozen profile. “It just becomes more focused on where you direct your attention and the acquisition of clients.” Managed service provider ACIS IT Solutions had 79% growth to rank No. 132 in the Midwest. “This recognition is a testament to our commitment to excellence, innovation and the strong relationships we’ve built with our clients and partners,” ACIS President Travis Schnelle said in a public LinkedIn post about the Inc. Regionals list. “This achievement motivates us to continue pushing the boundaries of technology and service.” Epic Strategies ranked No. 103 on last year’s Inc. Regionals list in the Midwest. ACIS has not previously been on the Regionals list, according to its Inc. profile. • 2 Springfield companies make Inc. Regionals Farmer’s Wife marijuana company changes hands by Geoff Pickle · gpickle@sbj.net The Farmer’s Wife, a local marijuana company that was one of the first in Missouri approved to operate cannabis dispensaries, has changed hands. Ann Arbor, Michigan-based C3 Industries took over the state dispensary licenses for The Farmer’s Wife in January after the deal was approved by the Missouri Department of Health and Senior Services’ Division of Cannabis Regulation in November, said Lisa Cox, communications director for the DHSS. Cox said C3 Industries now owns the licenses via RR Missouri LLC. The ownership transfer comprises one dispensary location apiece in Springfield, Mountain Grove and West Plains, according to DHSS data. Ellen Mellody, senior vice president of public relations for New York City-based KCSA Strategic Communications, confirmed via email the acquisition on behalf of C3 Industries. The financial terms were undisclosed. The Farmer’s Wife was among the initial recipients of medical marijuana dispensary licenses in 2020 via OWG I LLC, according to past Springfield Business Journal reporting. State voters approved the legalization of medical marijuana in 2018, followed by recreational marijuana in 2022. OWG I LLC is registered with the Missouri secretary of state’s office by Stephanie Montgomery, the former name of Stephanie Stenger, a local real estate developer and attorney. Stenger, who deferred comment on The Farmer’s Wife deal to the buyer, also previously registered OWG II, III and IV with the secretary of state’s office. Stenger spoke to the ownership transfer in a recent interview with SBJ Executive Editor Christine Temple for the No Ceiling podcast. She said she was the public face of The Farmer’s Wife ownership group that included undisclosed partners. “We officially sold our stores at the end of the year,” Stenger told Temple in the interview. “We sold our license.” C3 Industries is in the midst of rebranding The Farmer’s Wife to High Profile, one of its dispensary brands. C3 Industries is a vertically integrated cannabis company with operations in four states, according to its website. The company was founded in 2018 by brothers Ankur and Vishal Rungta, along with their longtime friend and partner Joel Ruggiero. A Facebook post from the Springfield store indicated the store has been rebranded to High Profile, with a grand opening planned March 15. In addition to Springfield, High Profile has Missouri dispensaries in Cape Girardeau, Columbia, Mountain Grove, St. Charles, St. Louis, St. Robert and West Plains, according to its website. • The Springfield dispensary at 2935 E. Chestnut Expressway has rebranded to High Profile.
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