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Simplot Co. had assets with a book value of $1,222,610,000 and
shareholders' equity of $490,905,000.1
As of the valuation date, J.R. Simplot Co. was operationally
divided into five groups: (1) The food products group (FPG), which
comprises J.R. Simplot Co.'s potato, fruit, and vegetable
processing operations; (2) the agriculture group (AG), which owns
approximately 70,000 head of cattle and is one of the largest
suppliers of cattle in the United States; (3) the diversified
product group (DPG), which essentially manages two businesses--WSI,
a producer and marketer of assorted agribusiness products including
livestock feeds and livestock handling equipment, and Simplot
Transportation, the transportation management division of the
Company; (4) the minerals and chemical group (MCG), which
manufactures and markets fertilizers and chemicals, mainly in the
Western United States and in Canada; and (5) the development and
corporate group (DCG).
1. The Food Products Group
FPG is composed of three businesses: Potato processing, fruit
and vegetable processing, and other operations. As of the
valuation date, it represented approximately 55 percent or $718.3
1 J.R. Simplot Co. controlled a number of operations
(e.g., a potato storage facility operated through Aberdeen
Storage Limited Partnership and an office building operated
through Lake Forest Limited Partnership) using "off-balance sheet
financing".
In addition, entities were established in the names of
Simplot family members to acquire land, enabling J.R. Simplot Co.
to obtain greater water and grazing rights.
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Last modified: May 25, 2011