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J.R. Simplot history
J.R. Simplot company history timeline
1956: The J.R. Simplot Company is incorporated.
In the 1960’s J.R. “Jack” Simplot teamed up with McDonald’s founder Ray Kroc to supply the fast-food chain with frozen fries.
In 1977, he and his company each paid $40,000 in penalties for failing to report income to the Internal Revenue Service, and for claiming false deductions.
In 1994, control over the J.R. Simplot Company was devolved to an office of the chairman comprising three of Simplot's children and one grandchild, keeping management of the privately owned empire within the Simplot family.
In 1995, Simplot and Nestlé SA teamed up to acquire the Pacific Brands Food division of Australia-based Pacific Dunlop Ltd.
Although he sold a significant chunk of his investment in 1996, some shares reportedly at a loss based on purchases after his initial stake, he still managed to make hundreds of millions of dollars on his Micron stock.
Demand for frozen potatoes began to falter in 2001--especially after the events of September 11th--and quick service restaurants began to experience a slowdown in frozen potato sales.
Sales: $3 billion (2002 est.)
The suit dragged on for five years, and in 2003 Simplot was forced to pay $8.2 million in damages.
2003: The company opens a french fry plant in Manitoba, Canada.
Simplot became the 89th richest American in Forbes magazine’s 2007 list ($3.6 billion) by seizing opportunities, then perceiving how one success could lead logically to the next.
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J.R. Simplot competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Britz Fertilizers, Inc. | 1948 | $5.9M | 8 | - |
| Dairy Farmers of America | 1967 | $13.5B | 18,000 | 935 |
| Stonyfield | 1983 | $5.4M | 498 | - |
| United Dairymen of Arizona | 1960 | $750.0M | 100 | - |
| Agri Mark | 1916 | $510,000 | 5 | 34 |
| Trident Seafoods | 1973 | - | 9,000 | 53 |
| Furst-McNess | 1908 | $345.3M | 350 | 11 |
| Sparboe Companies | 1954 | $30.0M | 450 | - |
| Waymouth Farms | - | $35.0M | 200 | - |
| Pacific Cheese Co. | 1970 | $500.0M | 200 | 11 |
J.R. Simplot history FAQs
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J.R. Simplot may also be known as or be related to J.R. Simplot and J.R. Simplot Company.