Hoober Feeds

Client for 5 Years.

The Backstory

Hoober Feeds has been supplying feed for horses, dairy cows and swine for more than 75 years. They manufacture up to 38,000 tons of feed on an annual basis. Brad Wagner grew up with the family business and was named general manager of Hoober Feeds in 2002. When Wagner and two partners purchased the company in 2010, he knew he needed the help of astute tax advisors to help with the acquisition.

“I have a CPA degree, but I am not familiar with the all the details that Acuity is,” Wagner explained. “I needed help structuring the financing for myself and with the partnership agreement.”

The Solution

Although he had not worked with Acuity prior to the sale, he was aware of its reputation for being knowledgeable in both the agricultural industry as well as generational succession planning.

“Family transitions have their share of challenges,” Wagner added. “So we started with Acuity during the purchase of the feed mill.”

The Outcome

Acuity became a true partner for Hoober Feeds – going above and beyond the company’s initial need for succession planning.

“They brainstorm with business prospects and offer unique services such as an accelerated tax depreciation,” Wagner said. “Acuity also helps us with year-end tax planning and regulatory compliance.”

Best of all, Acuity helped Wagner’s family with additional savings for their own business. “My wife and I have an ag-related business and Acuity helped us get the best tax benefit.”