Breezy Plains Acres began in 1927 as a little farming business in Minnesota consisting of a section of property using a homestead. Run by fourth and fifth generations of the Richter family, it was a five million dollar, complex agri-business that controlled both owned and leased cropland and pasture, five sites, several hog completing units, and cattle.
He realized that with increased sophistication arrived increased challenges in relation to the best way to prolong the operation within the family for future generations. He had one farming son, seven off-farm children and fifteen grandchildren. He was concerned about who would sustain the farm, and how a number of the non-farming kids had the interest, and, equally important, the financial resources, to buy-in to the business. He remembered examples of farms being sold to strangers due to the kids fighting due to the way the estate was divided and farm families, as he considered estate planning. Being fair to his children was of central importance. As he reviewed the challenges, he believed, "What can I do to help assure that future generations of Richters will still possess and handle Breezy Plains Acres?"
PUBLICATION DATE: May 01, 2013 PRODUCT #: NA0228-PDF-ENG
This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE
Related Case Solutions & Analyses:
Utilis: Designing Producing and Selling Rapid Deployment Shelters for a Troubled World
British Columbia Ferry Services Inc.: Charting a Safe Course
Contribution of Art/Design to Social and Political movement
MobiVi: Establishing Credit Lending, Micro Donations, and Allied Services in Vietnam Using Telecom Technologies
Recorded Future: Analyzing Internet Ideas About What Comes Next
The EC Rains on Oracle/Sun
International AIDS Vaccine Initiative
Nice Ventures
Red Tomato: Keeping it Local
Huawei’s Strategic Review (A): Sam Park
