Ag Supplies Wholesale and Distribution
Andrew Steiman, CFO,
BrettYoung Seed, Winnipeg, Man.
Relationships drive the business at BrettYoung
Andrew Steiman may surprise you. As a numbers guy who’s CFO for BrettYoung, one of Canada’s largest seed companies, he appreciates a solid balance sheet. But ask him what’s most important in running a successful business and he’ll look past the numbers.
“It’s all about relationships,” he explains. “You need to build relationships that share a strategic interest and values.”
As a family-owned business for 75 years, Winnipeg-based BrettYoung has a history of building relationships with partners, employees and customers. Today, the company has five seed plants: two in Manitoba, two in Alberta and one in Saskatchewan.
BrettYoung also has an impressive menu of seed for Canadian and international customers. Options include canola, corn and soybean varieties. In addition, BrettYoung is the largest turf and forage seed supplier in Canada.
Looking ahead, Andrew says he’s excited about the potential in the company’s patented BioBoost, a biological growth promoter. The inoculant is currently available for canola and soybeans, and other crops may be added.
To keep up with all that growth, BrettYoung looked to FCC. Andrew says his company was undercapitalized for the opportunities it had, and all operating debt was under one lender, which wasn’t an ideal risk management strategy.
“We needed a lender who understands the nature of our business and is committed to agriculture. Because FCC understands our business, they can offer flexibility. And for us, it was important to work with good people who share your values – whether it’s employees or partners.”
BrettYoung was also looking for financing that went beyond pre-packaged terms. “With FCC, we have long-term financing that functions a lot like a line of credit,” Andrew explains. “And that flexibility is key, especially in agriculture.”