COUNTRY BANKING
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Cor Broekhuijse - integration important
Rick Henderson - local gurus
But it's not just Rabobank
International (RI) that's adding
value: Rabo Agrifinance has a lot
to bring to the table, too. lts national
platform for real estate lending is
run by a team with extensive experi-
ence, often boasting close to 20
years of working with the company.
Specifically, it's the 30 Investment
Managers scattered throughout
the US who are the company's key
asset. I.ocated in primary agricul-
tural areas, these local gurus know
everything there is to know about
their clients' business, whether it's
commodities, land values, or bor-
rowers. 'They form our national
platform and bring in the expert
ise that has made us successful
for over 90 years,' Henderson
explains.
As 2004 gets on its way, Rabo
Agrifinance continues to focus on
real estate lending accounts, while
exploring ways to utilize Rl's plat
forms to provide expanded financial
services to its clients, such as operat-
ing lending and equipment leasing.
'In the future I see us as an organiza-
tion that can use Rabo Ag Services
and VIB to provide referrals,'
Henderson says. 'Our goal is to pro
vide all financial services an ag pro
ducer would want.'
Just as RI was closing the books on
one deal, it was gearing up for its
next big acquisition in the US: Ag
Services of America. While the L.end
Lease process required close to two
years, Ag Services took a mere four
months. Broekhuijse's team began
looking at this supplier of erop pro
duction financing in September 2003;
by year's end, the deal was complete.
RI purchased 100% of Ag Services'
common stock for approximately
US$47 million.
Challenged with obtaining a line of
credit that would allow the company
to expand its offering, Ag Services
was already considering its options
when Rabobank entered the picture.
'We had reached a point where it was
difficult to support our customers'
needs and grow to expectations,'
Kevin Schipper, Rabo Ag Services'
CEO, explains. 'We found a partner
in Rabobank that would allow us to
expand in the company's primary
target market. What was attraetive
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