Acquisition to accelerate companies’ soil health capabilities
Nick Bancroft and Jeff Sangalli took different paths to become CEOs of agribusiness companies dedicated to soil health, but their commitment to the industry is identical.
The two men also share a belief that the recent combination of their companies will be a boon for the growers whose interests they work to serve. Bancroft is CEO of AgroLiquid, a liquid fertilizer company based in St. Johns, Michigan, while Sangalli leads Monty’s Plant Food Co., a Louisville- headquartered specialist in soil health and plant nutrition technology.
AgroLiquid acquired Monty’s Plant Food Co. in a transaction effective Jan. 1 that combines AgroLiquid’s liquid fertilizer expertise with Monty’s soil health and humic technology knowledge.
“AgroLiquid and Monty’s both exist to prosper the farmer. A farmer-first mentality — that’s who we are,” Bancroft told Spudman. “We do some similar things, but we have different technologies.”
Sangalli said Monty’s focuses on helping growers stretch their dollar and improve their yields.
“Soil health is really what our company is founded on,” he said. “Our philosophy is that healthy soil leads to healthy plants and high yields. Because (with) potato (plants), so much of the growth is below the soil, it’s essential that we get the soil right before we start taking care of above the soil.”
NATURE’S ULTIMATE COMPOSTING PRODUCTS
Humic substances — organic compounds that result from the decomposition of plant and animal materials — promote bioactive effects in plants, stimulating growth and development, warding off biotic and abiotic stresses, and increasing agricultural productivity.
“Humics are the artifacts of soil organic matter that went through humification over many, many years, and so the starting material has all of those vital chemicals that are so important to soil health, the soil microbiome, soil structure and function,” Sangalli said.
One group of humic substance molecules may target rebuilding soil structure, while a different set may be used to supercharge the microbiome, or the collection of microorganisms that help cycle nutrients such as carbon, nitrogen and phosphorus in the soil and increase soil fertility, plant growth and stress tolerance.
Humic applications can be foliar or directed at preventing leaching and volatilizing of soil nutrients, Sangalli said. Bancroft said humic technology will help boost AgroLiquid’s line of nitrogen, phosphorus, potassium and micronutrient fertilizers and biofertilizers.
“Monty’s attacks improving soil health head-on. Part of AgroLiquid’s philosophy is to not put harmful things in our fertility products that damage beneficial processes,” he said. “You put those two things together — do no harm and accelerate good soil health — and we should make a powerful team.”
PATHS TO PARTNERSHIP
Bancroft, whose father co-founded AgroLiquid in 1983, was born into the business, which he operates with his two brothers.
“It’s a family of people deeply committed to agriculture and farming and providing inputs to growers that are a bit different than what the general marketplace comes with,” he said. “We’ve been doing research at our research facility in Michigan since the mid-90s.”
Sangalli’s agribusiness route was a bit more circular. While his family farmed mushrooms, his career first veered into semiconductor engineering, with stints at large corporations including Ford Motor Co., General Electric, and laser printing company Lexmark.
“When I was at Lexmark, I managed R&D and new product development, so I was always having to look at mechanical, electrical and chemical designs — all the various aspects that make up the design of a product,” he said. “I had to distill those down and then move those into business concepts. That’s always been a strength, being able to understand various technologies and then convert them into business and marketing concepts and ideas.”
Monty’s will continue to operate under its name and as a privately owned company with Sangalli at the helm. The companies will maintain brands and product lines while combining operational capabilities, including manufacturing, warehousing and storage infrastructure.
“We’re constantly developing and innovating,” Sangalli said. “We’ve got new products on the drawing board and things that we’re working on for the future, always.”
Monty’s has been on AgroLiquid’s radar for a while, said Bancroft, who is excited about the possibilities presented by the new partnership.
“Monty’s has been known in the industry to have products that are consistent and targeted. That is one of the challenges in that humic acid space, is just having the knowledge and the products to target specific things,” Bancroft said. “We think about who good partners are in the industry. We think about who good competitors are in the industry.
“Monty’s has been a good competitor. In the future, they’ll be a good partner as we come together.”
