Chicago, July 20, 2007 – R.J. O’Brien & Associates, LLC (R.J. O’Brien) and Iowa Grain Company, two of the most respected futures industry brokers, today announced they have signed a definitive merger agreement combining the two companies. Terms of the transaction were not disclosed and it is expected to close on or before August 31st, 2007.
“The clear benefit for Iowa Grain’s customers will be increased access to global markets and a diverse set of product offerings,” said Michael Brinati, CEO and President of Iowa Grain Company. “More importantly, we will deliver these new product offerings with the same commitment to service that has defined our premier standing in the industry.”
“Our two businesses share a similar culture; both have demonstrated a commitment to client service and innovation, and share the same vision of the industry going forward. This merger between R.J. O’Brien and Iowa Grain Company is an ideal fit,” said Gerry Corcoran, Chairman of R.J. O’Brien. “We did this transaction because we saw real opportunities for our clients and employees.”
“Both Iowa Grain and R.J. O’Brien have been at the heart of the futures industry for generations,” said Colleen Mitchell, President of R.J. O’Brien. “The merging of the two firms will result in a stronger company that will be able to provide an even higher level of service, research and technology.”
The combined companies will be the largest guarantor of introducing brokers in the world and is committed to offering the most extensive suite of IB products and services in the industry. Iowa Grain Company’s owners will retain a minority interest in the company.
R.J. O’Brien was advised by the law firm Weil, Gotshal & Manges LLP. Iowa Grain Company was advised by the law firm DLA Piper US LLP.
About Iowa Grain Company
Iowa Grain Company is a member of the Chicago Board of Trade and the Chicago Mercantile Exchange. For 38 years, Iowa Grain Company has offered premier service, execution and market advisory to all levels of the agriculture industry. In addition to specializing in the U.S. agricultural futures and options markets, we provide full service clearing and execution services. For further information, please visit www.iowagrain.com.
About R.J. O’Brien & Associates, LLC
R.J. O’Brien is the largest independent futures brokerage in the United States. R.J. O’Brien is also one of the oldest futures brokerage firms, dating to 1914. The firm is majority owned by private equity firms Spectrum Equity Investors and Technology Crossover Ventures. R.J. O’Brien is a founding member of the Chicago Mercantile Exchange (CME) and is a full clearing member of: the Chicago Board of Trade (CBOT); the New York Mercantile
Exchange (NYMEX); Intercontinental Exchange (ICE); Eurex AG; EuronextLIFFE; and US Futures Exchange. R.J. O’Brien services a global network of more than 270 introducing brokers and some of the world’s largest financial, industrial and agricultural institutions. R.J. O’Brien offers the latest in order entry technology coupled with 24-hour execution and clearing on every futures exchange worldwide. For further information, please visit www.rjobrien.com.
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Media Contacts:
R.J. O’Brien & Associates, LLC
Steven Bruce / Mary Beth Grover / Monica Everett
The Abernathy MacGregor Group
212-371-5999
Iowa Grain Company
John M. Walls
312-786-9760
