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Summary

J.C. Bell was working with peanut to find a means of adding value and providing additional marketing and revenue opportunities to Georgia farmers. Mr. Bell has worked with UGA Food Science in Griffin where he secured the rights to a number of new products which were developed on campus. As a result, Mr. Bell began producing P2B and selling it nationwide. The company has grown to the point that it is going public.

Situation

J.C. Bell was working with UGA Food Science in Griffin to market some of the products they develop in their labs. One of the products that Mr. Bell became interested in was a peanut butter powder product. The process removes 85% of the fat from premium quality peanuts by squeezing oil out of the roasted peanuts. The end result is powdered peanut butter that was named P2B. The peanut butter can be reconstituted using either water or a favorite drink and you get peanut butter with the same consistency as full-fat peanut butter, with all the roasted peanut flavor, but 85% less fat calories.

Response

The Center for Agribusiness and Economic Development (CAED) was contacted by Belle Plantation in Tifton, Georgia for assistance with a feasibility study. J.C. Bell needed to raise money to obtain a processing facility to make the P2B and investors wanted to see if the business proposition was economically feasible. The CAED met with J.C. Bell on two different occasions and successfully completed their feasibility study which they presented to potential investors. This happened in 2004. A number of the investors called the CAED independently to learn more about the business and its viability. After reading the feasibility study, sitting through its presentation and talking with CAED faculty, these investors decided to invest in the company allowing it to get its start.

Impact

J.C. Bell was able to secure the necessary funding from investors (area farmers) and amenities from the local development authority in Fitzgerald, Georgia to retrofit a building and purchase equipment. The end result was Bell Plantation producing and selling its P2B peanut butter product. The following is an excerpt from their latest stockholders newsletter. "Bell Plantation has reached a point to make it possible for your to start receiving a true value for your investments in time and money. The Board of Directors have move forward along with our General Counsel in registering our stock with the SEC for public trading. It looks like our stock will be publicly traded by the middle of November"

State Issue

Agribusiness Development/Value Added

Details

  • Year: 2010
  • Geographic Scope: Multi-County
  • County: Ben Hill
  • Program Areas:
    • Agriculture & Natural Resources

Author

  • Wolfe, Kent L.

Collaborator(s)

Non-CAES Collaborator(s)

  • Michael Best
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