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New venture will be a single-source provider of a broad range of supply chain and industrial services in energy and agriculture.
May 16, 2018
Supply chain provider Savage Companies, based in Salt Lake City, Utah, and grain and milling firm Bartlett & Co., based in Kansas City, Mo., announced the planned merger of their businesses to form a new combined entity: Savage Enterprises.
Together, Savage and Bartlett have more than 180 years of experience providing transportation, logistics and materials management services for customers across multiple industries, with a focus on energy and agriculture.
By combining strategic capabilities and assets, the new venture will be a leading single-source provider of a broad range of supply chain and industrial services. Both Savage and Bartlett are large, private, family-owned companies in their fields. Leaders and teams from both companies are committed to serving customers as they have in the past, and the businesses will continue to operate under both the Savage and Bartlett names, according to the announcement.
The merger is expected to be completed in August 2018. Terms of the transaction will remain confidential.
Bartlett is an agribusiness focused on the acquisition, storage, transportation, processing and merchandising of grain and is a leading U.S. exporter of grain to Mexico. The new entity will include Bartlett's grain and milling businesses. Bartlett has been operating for 110-plus years, with more than 760 team members and 30 facilities strategically located throughout the U.S. and Mexico.
Savage specializes in rail, truck and marine transportation, logistics, materials handling and other industrial and environmental services. Established in 1946, Savage has more than 4,000 team members in more than 250 operating locations across the U.S., Canada, Mexico and Saudi Arabia. Industries currently served include oil refineries, power generation, railroads, food and agriculture, oil and gas, mining, chemicals and petrochemicals, ports and terminals and construction.
“We're thrilled to join forces with Bartlett, an established industry leader, and look forward to the opportunities for continued growth and success this new organization makes possible,” Savage president and chief executive officer Kirk Aubry said. “By combining the operational and market expertise of both companies with our shared values of integrity, safety and reliability, we'll grow stronger together and thrive for generations.”
“Partnering with Savage makes sense logistically and strategically, and we couldn't be more excited at this opportunity to combine our strengths for the benefit of our customers and partners,” Bartlett president and CEO Bill Fellows said. “Our customers and partners can count on our continued commitment to provide exceptional service with the same great teams and working relationships they've come to trust.”
Upon completion of the merger, team members from both companies will continue to work from their current locations. Bartlett chairman James Hebenstreit will join the board of directors of Savage Enterprises and become its vice chairman. Fellows will continue to serve as Bartlett president and CEO and will also join the board. Aubry will serve as president and CEO of the newly formed parent company.
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