AGR Partners, a new global agribusiness investment firm, opened their headquarters in downtown Visalia’s historic Bank of the Sierra building earlier this month. The company is overseen by managing member Ejnar Knudsen who worked as a VP with Western Milling for 7 years after 10 years living in New York. “Downtown Visalia is great place to recruit young professionals” he adds, having just brought in a new staffer from NYC who will be part of 10 member investment team in town.”We love the farmers market and can’t complain about the commute”he jokes, noting he drives to work from Exeter each day.
The firm expects to have a portfolio of more than several hundred million dollars investing in typically family-owned agribusiness firms who want to maintain control but provide some liquidity for family members who may no longer want to participate in the family business.”Our minority ownership strategy is kind of unique in that way.”
About half of the investments are likely to be in North America including the Valley and the rest overseas.
AGR recently has bought a 19.5% stake in one of Australia’s largest animal feed firms, Ridley Corporation for $56 million. Like a number of other investments – the Australian firm is well positioned to provide a ready source of protein for a growing Asian middle class.”We are looking at food processors in the Valley and salmon aquaculture” in Scandinavia.
