Kennedy and Coe LLC plans to combine with Chico, Calif.-based firm, Matson and Isom. The merger, which is pending final approvals, is scheduled to close on Jan. 1, 2015.
The new addition will give Kennedy and Coe’s revenues a boost from $36 million to approximately $60 million, and its staff will increase from 250 to roughly 375.
Jeff Wald will continue his role as CEO. “We do great work in our key focus areas, and as a firm that started in the Heartland, Kennedy and Coe’s deepest focus has always been in food and agriculture. We are determined to be part of the industry rather than a firm that just serves it. Over the years, we’ve added extraordinary capabilities and talent to anticipate and preempt problems for clients, and to help them seize new opportunities,” Wald said in a statement. “Matson and Isom is a great firm that also happens to be the largest local CPA firm in the incredibly important California food and ag market. Most importantly, we share this unique vision to positively impact the future of farming and food production in America.”
Both firms help producers sustain and grow their businesses in wildly fluctuating conditions — weather, commodity volatility, land values, and economic pressures — making sure their operations are strong and thriving for the next generation. The two firms work with businesses throughout the food-supply chain including input suppliers, processors, packagers, storage and distributors.
“Neither of our firms are interested in growth for growth’s sake. What we’re interested in is helping the food and ag industry through some challenging yet exciting times. We can do that a lot better together than separately,” Matson and Isom’s managing director Jim Holt said in a statement.
Kennedy and Coe, and Matson and Isom are currently working on a name change, which the newly combined firm will reveal once rebranding efforts are complete.