Moberly Natural Crush Appoints Industry Leaders as Directors, Announces Winter Meeting Schedule
With a business plan to be a marketplace for specialty soybean processing, it only makes sense that Moberly Natural Crush, LLC., would assemble an extra-special Board of Directors. In November the company appointed three seasoned professionals to its Board, and it expects these Directors to make an immediate impact.
Fritz Holzgrefe, who spent nine years as the Chief Financial Officer for ADM’s specialty oilseed business, the Golden Peanut Company, brings a wealth of food ingredient expertise to the table. Holzgrefe is presently the President and Chief Operating Officer of Saia, Inc., a $1.7 billion NASDAQ listed transportation and logistics company. He has an undergraduate business degree from the University of Notre Dame and an MBA from Washington University.
Next, the company announced that Scott Allshouse will be joining the team. Allshouse is the President of Whole Foods Market’s Mid-Atlantic Region with responsibility for 13,000 team members across seven states. A manager at the company since 2000, Allshouse helped transform Whole Foods to its position as the largest natural food retailer in the world with more than 550 locations and $16 billion in revenue. He received his Electrical Engineering from Penn State University.
Mark Lewis, a financial executive who has held seats on the Boards or helped fund the start-ups of more than 40 different companies, was the final non-farmer appointee. Most recently, Lewis has played a critical role as the Chief Financial Officer of LockerDome, an internet advertising and publishing platform that has transitioned from “early-stage/start-up” into a thriving, high-growth business. In his role there, Lewis has been responsible for several rounds of investor financing, and as a Board member, he also helps steer the strategic course. Lewis has an MBA from Washington University and an undergraduate degree from Georgetown University.
MNC is in the midst of its Phase Two equity drive in which it plans to raise $5 million to purchase equipment to operate its soybean processing facility in Moberly’s industrial park. Its business will be focused on processing specialty soybeans like SOYLEIC™, a non-GMO soybean with a high oleic (modified fatty acid profile as compared to commodity soybean) trait. High oleic soybean oil provides a trans-fat free solution with improved frying life, a higher smoke point and essential Omega 3 fatty acids.
“SOYLEIC™ is a win-win for those of us in the supply chain,” said MNC CEO Pat Conners. “High oleic oil is has the potential to trade at a premium above commodity soybean oil, and the SOYLEIC™ oil has many superior health benefits to its primary competitors like olive and sunflower oils.”
MNC has been approved for a $1.5 million allocation of New Generation Cooperative Incentive Tax Credits through the Missouri Agricultural and Small Business Authority (MASBDA). This allocation will be passed through to all farmer-producer investors who will receive between a 30%-to-50% state tax credit against their investment.
As part of this MASBDA qualification, MNC’s Board will be “farmer-controlled”, meaning that a majority of the Board’s voting block will be held by Missouri farmer-investors. Conners said the farmer Board members will be named when the Phase Two equity drive is completed.