|Kevin Wright, president of Ritter Agribusiness.|
“We’re pleased that Poinsett Rice & Grain, a family-owned, Arkansas-based business has taken over the Marked Tree grain operation and that all of Ritter’s grain services employees in Marked Tree have transitioned to Poinsett Rice & Grain,” said Kevin Wright, president of Ritter Agribusiness. “We’ve had a great working relationship with Poinsett Rice & Grain for many years and we believe they will be great partners for us and our producers as Ritter continues to serve the Delta agriculture community.”
Ritter Agribusiness owns 32,000 acres of Delta farmland, oversees the management of another 16,000 acres, and is a partner in a cotton gin and warehouse operation. The company has leased a grain facility in Otwell, Arkansas, U.S., since 2013. Ritter said the lease on the Otwell location expires at the end of March, at which point the property owner will reassume control of the facility.
“Delta farming is part of who we are and it is deeply embedded in our company history,” Wright said. “We remain committed to the agriculture industry and to the Marked Tree community. We’re excited about the opportunities that lie ahead.”
With the acquisition, Poinsett Rice & Grain now owns and operates six storage facilities as well as a river port and a brown rice mill. The Waldenburg, Arkansas, U.S.-based company ships crops via truck, barge, rail and vessel and offers the following products for domestic and export markets: long grain rough rice, medium grain rough rice, long grain brown rice, medium grain brown rice, soybeans, corn and wheat.
“We are pleased to have the opportunity to continue to grow our business as we serve Northeast Arkansas farmers and Arkansas agriculture as a whole,” said Ryan Carwell, vice-president of Poinsett Rice & Grain. “The acquisition of the Marked Tree facility gives our customers another marketing option that will prove beneficial to their businesses. It’s a win-win situation for all involved.”