Staplcotn Acquires 50% Interest in TJ Beall Company
Staple Cotton Cooperative Association (Staplcotn) has purchased a 50% stake in Gary Beall Enterprises, LLC, which conducts business as TJ Beall Company.
The transaction was completed effective March 31, 2018. Wildwood Gin, LLC, a Money, Mississippi-based company, owns the other 50% stake in Gary Beall Enterprises, LLC.
“Staplcotn is excited to partner with Wildwood Gin and Tommy and Lawson Gary. This partnership will be beneficial to TJ Beall and support Staplcotn’s core mission of enhancing our members’ incomes,” said Meredith Allen, Staplcotn’s president and CEO.
“The Garys have a tremendous amount of expertise and ingenuity in the processing of cotton into quality products for the nonwoven, paper, and traditional textile industries,” he added. “With global demand for cotton increasing across all cotton industrial uses, TJ Beall’s proximity to our grower-members’ production footprint, and Staplcotn’s position as a leading cotton supplier, tremendous synergies exist. The timing for this partnership is perfect.”
Founded in 1921, Staplcotn is the oldest and one of the largest producer-owned cotton marketing cooperatives in the United States, serving approximately 7,000 members in the southeastern U.S. Cotton Belt. It provides a range of services, including cotton marketing, cotton warehousing, and agricultural financing through its Stapldiscount lending arm.
Based in the Mississippi Delta, TJ Beall Company manufactures and supplies an array of natural cotton fibers for the nonwovens, traditional textiles, technical textiles and paper industries. The company currently produces and supplies recycled cotton fibers, greige premium cotton fibers and an assortment of absorbent cotton raw materials.
“Staplcotn appreciates the work of Julian Beall, former Gary Beall Enterprises, LLC partner and CEO of TJ Beall Company,” noted Staplcotn Executive Vice President Hank Reichle. “Without the Beall family’s efforts over the past three generations, this opportunity wouldn’t exist. The TJ Beall name is synonymous with service and integrity. Those values instilled by Julian, his family, and the entire TJ Beall staff align seamlessly with the corporate culture at Staplcotn.”
“The Gary and Beall families have partnered for 35 years to innovate and expand new markets for cotton,” said Lawson Gary, the new CEO of TJ Beall Company. “We are sad to see Julian leave the business, but truly appreciate his leaving us in excellent hands with a company that we greatly admire and have trusted to market our farm’s cotton production for many years.”
Tommy Gary, who now serves as COO/CFO of the company, added, “The new partnership with Staplcotn will enable the company to solidify its sourcing needs for cotton, as well as continue our quest to innovate new uses for cotton in consumer products.”
Source – Staplcotn