J. R. Simplot Company acquires Florikote Technology
Sep. 26, 2012
The J. R. Simplot Company, a leading global supplier of crop nutrient products has purchased the patented Florikote technology from Florikan, a specialist in polymer-coated fertilizer technologies. The two companies will jointly promote and distribute this new controlled-release fertilizer in the worldwide turf, ornamental, and specialty agriculture markets.
The technology is a recently developed and patented polymer-coated fertilizer invented by Florikan with assistance from the NASA-funded Space Alliance Technology Outreach Program. Florikote utilizes next-generation polymers and manufacturing processes that enable the encapsulation of unique fertilizer materials that previously have not been available commercially.
The purchase and collaboration reinforces Simplot’s position as a market leader of controlled release fertilizers while providing Florikan with the opportunity to realize the full market potential of the Florikote technology through access via an accompanying license arrangement.
"Florikote is an innovative new technology that will enhance our controlled release product line as we further leverage our BEST and APEX brands within our Turf & Horticulture business,” said Jeff Roesler, Simplot vice president of supply and specialty business units. "We will begin integrating the technology into existing production and distribution facilities to expeditiously bring it to customers while establishing the brand in new markets over the long term.”
Simplot AgriBusiness Group president Garrett Lofto said the new technology represents a key breakthrough in nutrient stewardship.
"We feel this advanced technology has applications throughout many of our market segments, and we are excited about our newly formed association with Florikan,” he said.
"Offering controlled release fertilizers supports Simplot’s sustainability initiatives as these technologies fit well with the principles of 4R Nutrient Stewardship.”
According to Jon Rosenthal, a principal at Florikan, the association between the two companies is good for both organizations.
"The partnership with Simplot enables the Florikote technology to impact broader markets while providing Florikan with the resources to expand its business and meet the growing demand of its customer base,” he said. “We feel that Simplot, with its deep expertise in controlled release fertilizers, is an ideal partner to support our mission in improving the efficiency of fertilization.”
Simplot will market the technology exclusively to customers in the western U.S and internationally, while Florikan will exclusively market Florikote in its core horticultural markets in the eastern U. S. and all markets in Florida. Together, the companies will make Florikote available to all markets coast-to-coast and worldwide.
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