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Source: Jimmy Sanders news release

JSI Parent, Inc., New York, NY, has signed a definitive agreement to acquire Jimmy Sanders Inc., Cleveland, MS.

Under the agreement, JSI Parent, Inc. will purchase 100% of the retailer's stock. A Cleveland, MS-based company, Jimmy Sanders Inc. owns and operates 43 retail farm centers located in Mississippi, Arkansas, Tennessee, and Louisiana. Included in the sale is the company's interest in the Light, AR, Seed Plant, the company's corporate headquarters, river terminals, and distribution centers.

JSI Parent, Inc. is an investment company founded by Francis P. Jenkins, Jr. and G. Kenneth Moshenek, both formerly executive management of Royster-Clark, Inc. According to Jenkins, "JSI Parent, Inc. expects to make very few changes and will continue to operate the company as Jimmy Sanders Inc. and will maintain its headquarters in Cleveland, MS."

Jimmy Sanders Inc. was founded in 1953 and has been a family-owned business since its inception. According to Sanders' President and CEO, Mike Sanders, "The sale of the company to JSI Parent will benefit Sanders employees and customers because Jimmy Sanders' legacy will continue with no disruption to the business. The new owners will continue to offer customers high value products and services, will operate the company with the existing employees, will maintain the same Jimmy Sanders name, and will keep the corporate offices in Cleveland."

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