Florikan, a specialist in polymer-coated fertilizer technologies for the agriculture and horticulture industries, has sold its patented Florikote technology to the J. R. Simplot Company, a leading global supplier of crop nutrient and specialty fertilizer products.
As the only manufacturer of controlled release fertilizer in Florida, Florikan will continue to operate as an independent business.
The two companies will jointly promote and distribute this new controlled-release fertilizer in the worldwide specialty agriculture, turf, and ornamental markets that will help growers lower costs and improve crop quality with innovative products.
Florikan brought the Florikote technology to market in 2008 and has experienced more than fifty percent year over year growth in its production volume.
The Florikote controlled release fertilizer technology is a recently developed and patented polymer-coated fertilizer invented by Florikan with assistance from the NASA-funded Space Alliance Technology Outreach Program. Florikote utilizes next generation polymers and manufacturing processes that enable the encapsulation of unique fertilizer materials that previously have not been available commercially.
“The partnership with Simplot enables the Florikote technology to impact broader markets while providing Florikan with the resources to expand its business and meet the growing demand of its customer base,” said Jon Rosenthal, a principal with Florikan. “We feel that Simplot, with its deep expertise in controlled release fertilizers, is an ideal partner to support our mission in improving the efficiency of fertilization.”
Florikan is headquartered in Sarasota, FL and has been in operation since 1981. It remains a wholly owned and independent family business that will continue to manufacture Florikote under a licensing arrangement and serve its core horticultural markets in the eastern U.S. and all markets in Florida.
Simplot will market the technology to customers in the western U.S. and internationally. Together, the companies will make Florikote available and economical to all markets coast-to-coast and worldwide.
Source: Florikan
J.R. Simplot acquires Florikote slow release fertilizer technology
