Kennedy and Coe acquires another agribusiness firm
06/27/2013 6:10 PM
08/08/2014 10:17 AM
Kennedy and Coe is bullish on its agriculture and food production consulting business, which is why it has made two acquisitions in the sector in as many weeks.
The Salina-based accounting and consulting firm, which has a large operation in Wichita, announced Thursday that it had acquired a farm financial management company.
That company, AgKnowledge Management, was founded in 2003 and is based in Mississippi. AgKnowledge works with farmers to improve their profits and efficiency.
The AgKnowledge Management acquisition follows an announcement last week that Kennedy and Coe acquired Vela Environmental, a Washington, D.C.-based environmental consulting firm. Vela also has offices in Vermont and Wyoming.
Financial terms of the acquisitions were not disclosed.
Bob Schuster, partner-in-charge of Kennedy and Coe’s Wichita office, said both deals will enable the firm to strengthen its work in the agriculture arena.
“That’s an industry where we feel like we already have an advantage,” he said. “So we’re capitalizing on that advantage and expanding in the consulting area.”
Schuster added that a “significant portion” of Kennedy and Coe’s business is with farmers, food producers and related businesses.
“And we plan on expanding on that,” he said.
The Vela and AgKnowledge deals “give us some geographic presence,” he said. “They also give us some expertise and tools that allow us to add some significant value in that whole … industry.”