January 13, 2025

By Gerelyn Terzo, Global AgInvesting Media

Clive, Iowa-based Peoples Company is continuing its growth-by-acquisition strategy, kicking off the new year with a deal. In a strategic acquisition, Peoples Company, an integrated land management, brokerage, appraisal and energy solutions firm, has acquired Lincoln, Nebraska-based United Farm and Ranch Management (UFARM), a competitor with a century of operating history under its belt. This acquisition strengthens Peoples Company’s presence in the Midwest, adding over a dozen employees, four offices and 90,000-plus acres of land to its team and growing portfolio.

UFARM specializes in the management of farmland, ranches and recreational properties, and offers real estate and appraisal services. It currently manages land across five states — including Nebraska, Colorado, Kansas, Missouri, and South Dakota — where Peoples Company happens to be actively managing land. Peoples Company, which will retain all UFARM’s employees, is an acquisitive company that last year completed the purchase of Lallman, Paulson & Brettmann in Fremont, Nebraska after scooping up Omaha, Nebraska-based Mid-Continent Properties in 2020.

Peoples Company President Steve Bruere reflected on UFARM’s impressive history, promising to preserve the heritage of the firm: “For nearly 100 years, landowners have trusted the United Farm and Ranch Management team to implement strategies to improve farm productivity and increase the value of their land. While ownership of the company is changing, the 100-year legacy of stewardship and trusted advisement of United Farm and Ranch Management will remain,” he said.

UFARM Managing Broker and Operations Manager Chris Scow explained that as the firm explored the next chapter, they sought a partner that shared similar values to address the challenges facing farming and ranching, stating, “With Peoples Company’s robust land brokerage experience, their energy management services and their capital markets group, we believe this partnership positions our team and our clients exceptionally well for the next 100 years.”

Located just outside of Des Moines, Peoples Company handles more than $1 billion in annual farmland transactions annually in addition to the assets that its team appraises as well as its management business, which oversees over $4 billion in farmland assets across 25 states. Peoples Company President Steve Bruere spent some time with GAI News to provide further insight on the deal.

1.) GAI News: Could you share how the relationship with UFARM came to be?

Bruere: “We’ve known UFARM as a competitor for years. We have admired their team and their footprint throughout Nebraska. Their ownership team was evaluating their long-term plans and realized that the investment they needed to make in technology and their platform was going to be significant. So when we approached them about selling us the business, it resonated with them and the transaction came together quickly.”

2.) GAI News: Why the acquisition now, perhaps in the context of land values?

Bruere: “This is a classic scenario of the time to buy is when someone wants to sell. We didn’t think about the transaction relative to timing on land values.”

3.) GAI News: What were the catalysts for this acquisition?

Bruere: “This was one of six acquisitions that we completed in 2024. We think the farm management industry is ready for consolidation. Peoples Company has made significant investments in our platform to make these acquisitions happen and broaden the core services of these offices including access to our energy management group, capital markets team, appraisal, etc.”

4.) GAI News: Is Peoples Company focused exclusively on U.S. farmland and ranchland, and are there any plans for expansion?

Bruere: “Yes, we are focused on the U.S. only but are starting to see opportunities to engage globally. More to come on that in the future.”

5.) GAI News: What are your expectations for land values in 2025 and beyond?

Bruere: “Land values have some headwinds with geopolitical issues with tariffs, lower commodity prices and a higher cost of capital. Overall prices are pretty stable but will likely see some softness.”

The Peoples Company has also published its 2024 National Land Values report, which can be accessed here.

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