Savage and Bartlett Announce Merger, Combining Experience from 180 Years of Supporting Customers in Energy and Agricultural Industries

SALT LAKE CITY & KANSAS CITY, Mo.–(BUSINESS WIRE)–Supply chain provider Savage Companies, based in Salt Lake City, Utah,
and grain and milling firm Bartlett and Company, based in Kansas City,
Missouri, are pleased to announce the planned merger of their businesses
to form a new combined entity, Savage Enterprises. Together, Savage and
Bartlett have more than 180 years of experience providing
transportation, logistics and materials management services for
customers across multiple industries, with a focus on energy and
agriculture.

By combining strategic capabilities and assets, the new venture will be
a leading single-source provider of a broad range of supply chain and
industrial services enabling Savage and Bartlett customers and partners
to feed the world, power our lives, and sustain the planet. Both Savage
and Bartlett are family owned and among the largest privately owned
companies in their fields. Leaders and teams from both companies are
committed to serving customers as they have in the past and the
businesses will continue to operate under both the Savage and Bartlett
names. The merger is expected to be completed in August 2018 and terms
of the transaction will remain confidential.

ÔÇ£WeÔÇÖre thrilled to join forces with Bartlett, an established industry
leader, and look forward to the opportunities for continued growth and
success this new organization makes possible,ÔÇØ said Kirk Aubry, Savage
President and CEO. ÔÇ£By combining the operational and market expertise of
both companies with our shared values of integrity, safety and
reliability, weÔÇÖll grow stronger together and thrive for generations.ÔÇØ

ÔÇ£Partnering with Savage makes sense logistically and strategically, and
we couldnÔÇÖt be more excited at this opportunity to combine our strengths
for the benefit of our customers and partners,ÔÇØ said Bill Fellows,
Bartlett President and CEO. ÔÇ£Our customers and partners can count on our
continued commitment to provide exceptional service with the same great
teams and working relationships theyÔÇÖve come to trust.ÔÇØ

Bartlett has been operating for over 110 years, with more than 760 team
members and 30 strategically located facilities throughout the United
States and Mexico. Bartlett is a diverse agribusiness focused on the
acquisition, storage, transportation, processing and merchandising of
grain, and is a leading exporter of grain to Mexico from the United
States. The new entity will include BartlettÔÇÖs grain and milling
businesses.

Established in 1946, Savage has more than 4,000 team members in over 250
operating locations across the United States, Canada, Mexico and Saudi
Arabia. Savage specializes in rail, truck and marine transportation,
logistics, materials handling, and other industrial and environmental
services. Industries currently served by Savage include oil refineries,
power generation, railroads, food and agriculture, oil and gas, mining,
chemicals and petrochemicals, ports and terminals, and construction.

ÔÇ£We so respect and appreciate Savage…its culture, its vision, its
innovative management, its governance, its success,ÔÇØ said James
Hebenstreit, Chairman of Bartlett and Company. ÔÇ£The fit and the
possibilities for all who are Bartlett are extraordinary. The merger
will help make us the best we can be.ÔÇØ

ÔÇ£ItÔÇÖs incredible to reflect on the humble beginnings of both companies,
and our teamsÔÇÖ hard work to build the valued customer and partner
relationships we both have today,ÔÇØ said Todd Savage, Non-executive
Chairman of the Savage Board of Directors. ÔÇ£We have profound respect for
Bartlett and weÔÇÖre looking forward to the knowledge and wisdom from Jim
Hebenstreit as our Vice Chairman and Bill Fellows as a Board Member.ÔÇØ

Upon completion of the merger, team members from both companies will
continue to work from their current locations. Bartlett Chairman James
Hebenstreit will join the Board of Directors of Savage Enterprises and
become its Vice Chairman. Bill Fellows will continue to lead Bartlett as
President and CEO, and will also join the Board. Kirk Aubry will serve
as President and CEO of the newly formed parent company.

For more information about both companies, visit www.savageservices.com
and www.bartlettandco.com.

Contacts

For Savage and Bartlett
Jeff Hymas, 801-944-6584
[email protected]