WINNER: Distribution and Manufacturing
Eric Lofquist is always looking for the next great idea for Magnus International Group. The private holding company has evolved into a diverse producer of sustainable products that include all-natural waxes and renewable fuels as well as custom-made and all-natural animal feeds. It also has a business unit that recovers all-natural oil and water emulsions for recycling.
It began in 2007 when Magnus purchased Twin Rivers Technologies.
The company discovered it could make higher-value products from most of the all-natural raw materials injected into a blast furnace the company also operates. These products could then be resold as an all-natural wax component for Better Crocker candles and Duraflame logs.
In the animal feed business, Lofquist has invested a great deal to create the only company in the U.S. that produces, packages and distributes custom, all-natural animal feeds for the dairy, cattle, poultry, swine and equine industries. Feed wasn’t even something the company had thought of in the early days, but it has become a huge part of Magnus’ overall success.
Its entry into the business continues to expand as Magnus recently started shipping a new all-vegetable hog feed. Lofquist’s goal is to produce one new branded, all-natural product every quarter.
This is also possible due to a stable manufacturing base that is poised to respond to changing partner needs and other variables such as government regulations, commodity pricing pressures and climate uncertainties.
Lofquist, founder, president and co-owner, is very focused on building a strong organization, but he’s also got an eye on the community in which he does business. He contributes to a number of charities and is pursuing a number of ventures to help young people learn and position them for future success.
How to reach: Magnus International Group, www.magnusig.com.