Columbia AG Group, LLC v. International Farming Corporation, LLC

CourtDistrict Court, E.D. Washington
DecidedJune 4, 2020
Docket1:18-cv-03235
StatusUnknown

This text of Columbia AG Group, LLC v. International Farming Corporation, LLC (Columbia AG Group, LLC v. International Farming Corporation, LLC) is published on Counsel Stack Legal Research, covering District Court, E.D. Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Columbia AG Group, LLC v. International Farming Corporation, LLC, (E.D. Wash. 2020).

Opinion

1 FILED IN THE U.S. DISTRICT COURT 2 EASTERN DISTRICT OF WASHINGTON Jun 04, 2020 3 SEAN F. MCAVOY, CLERK

5 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF WASHINGTON 6

7 COLUMBIA AG GROUP, LLC, a Delaware limited liability company; NO: 1:18-CV-3235-RMP 8 and JAY GRAHAM, an individual, ORDER DENYING PLAINTIFFS’ 9 Plaintiffs, MOTION FOR SUMMARY JUDGMENT 10 v.

11 INTERNATIONAL FARMING CORPORATION, LLC, a Delaware 12 limited liability company,

13 Defendant.

14 15 BEFORE THE COURT is a Motion for Summary Judgment brought by 16 Plaintiffs Columbia Ag Group, LLC (“CAG”) and Jay Graham’s (collectively, 17 “Plaintiffs”). ECF No. 24. Defendant International Farming Corporation, LLC 18 (“IFC”) opposes the motion. ECF No. 31. Having reviewed the parties’ filings 19 related to the Motion for Summary Judgment, the remaining record, and the relevant 20 law, the Court is fully informed. 21 1 BACKGROUND 2 Factual Context 3 The following facts are undisputed unless otherwise noted. 4 Graham is a Real Estate Managing Broker for CAG, a real estate firm based in

5 Port Ludlow, Washington. ECF No. 25 at 2−3. IFC is a private investment 6 manager based in Kinston, North Carolina, focusing on agribusiness assets. ECF 7 Nos. 25-8 at 4; 26 at 2; and 36 at 2. In approximately May 2017, Graham called

8 IFC’s Pacific Northwest Sourcing Manager Toby McKay and, as recalled by 9 McKay, told McKay that Graham “knew about two possible purchase and sale 10 opportunities that he thought IFC would be interested in pursuing.” ECF No. 32 at 11 2−3. At the time, Graham referred to the opportunities using the code names

12 “Project Victory” and “Project Fuji” to maintain their confidentiality. Id. at 3. That 13 summer, IFC and CAG executed nondisclosure agreements to discuss in limited 14 detail and without identification of the businesses offered for sale in either project,

15 the purchase opportunities. Id. 16 Also throughout summer 2017, McKay, on behalf of IFC, negotiated with 17 Graham the terms of a brokerage contract. McKay recalls:

18 Graham led me to believe that he and his firm would be working directly with the sellers and providing to IFC exclusive information that 19 would not be available to anyone else to facilitate a purchase that would not be made available to other prospective buyers, meaning that the 20 purchase would be “off market.” Because of these assurances, IFC agreed to include a commission provision in the contract between the 21 parties. 1 ECF No. 32 at 4. 2 On approximately September 9, 2017, IFC, CAG, and Graham partially 3 executed a “Buyer Agency Agreement” (the “Agreement”). ECF No. 25-1. 4 Pursuant to the Agreement, IFC engaged CAG and Graham to act as its broker to

5 purchase “property or business” of the following general nature: “[a]ny Washington 6 State apple packing facility” priced between $20,000,000 and $150,000,000. ECF 7 No. 25-1 at 4. The Agreement was finalized when CAG signed “Exhibit A” of the

8 Agreement, which identified specific assets subject to the Agreement on September 9 11, 2017, and IFC added its signature on September 22, 2017. ECF Nos. 32 at 6−7; 10 33 at 2; and 36 at 2. 11 In the Agreement, IFC agrees to pay “a commission equal to three quarters of

12 one percent (0.75%) of the purchase price of applicable business or property up to 13 $75 Million and one-half of one percent (0.5%) of the purchase price of such 14 applicable business or property if the applicable purchase price is greater than $75

15 million.” ECF No. 25-1 at 2−3. The Agreement further provides that the 16 “businesses and properties covered by this Agreement shall be the applicable 17 properties or businesses purchased by [IFC] through the exclusive information

18 provided by and efforts of [Graham] for a business or property is [sic] listed in 19 Exhibit A attached hereto and incorporated herein by reference.” Id. at 3. 20 21 1 The Agreement does not define “exclusive information.” ECF No. 25-1. 2 Furthermore, although the information provided by Graham is to be “exclusive,” the 3 Agreement provides: 4 [IFC] and all other applicable parties hereto agree and confirm that the relationship established by this Agreement is non-exclusive: [IFC] may 5 use other brokers or third parties to locate property and to act as a broker or representative of [IFC]; and [Graham] and other brokers referenced 6 hereunder may represent other buyers and/or sellers.

7 Id. at 3. 8 The Agreement defines the “Assistance” that Graham and CAG were to 9 provide: “Graham and [CAG] shall advise [IFC] from time to time of properties and 10 businesses that [Graham and CAG] can legally provide to [IFC] (respecting any 11 confidentiality agreements executed by [CAG] or Graham), and counsel [IFC] on 12 potential properties or businesses that might become available for purchase.” ECF 13 No. 25-1 at 3. 14 The Agreement provides that it began on September 1, 2017, and that it

15 expired “at 11:59 p.m. on August 31, 2018.” ECF No. 25-1 at 2. Any commission 16 becomes due and payable “at the time of the applicable closing and only if the 17 applicable property or business is purchased by [IFC].” ECF No. 25-1 at 3. The

18 commission is the only compensation from IFC to CAG and Graham provided for 19 by the Agreement. Id. at 2 (“In consideration of the services to be rendered by 20 [CAG], [IFC] agrees to pay [CAG] the Commission amount, as applicable, as 21 checked below.”). 1 A previous draft of the agreement from approximately July 2017 provided a 2 different definition of when the commission becomes payable: 3 This commission shall be payable if [IFC] shall, during the term of this Agreement or within eighteen months after the Expiration Date or 4 earlier termination, enter into a written purchase, option to purchase, or lease agreement for a property that [IFC] learned about during the term 5 of this Agreement, regardless of whether [IFC] learned of the same through the efforts of [Graham], a third party, or through [IFC’s] own 6 efforts.

7 ECF No. 32-1 at 6. 8 In that unexecuted version of buyer agency agreement, the parties’ agreement 9 began on July 24, 2017, and expired on December 31, 2017. ECF No. 32-1 at 5. 10 On September 11, 2017, when CAG transmitted Exhibit A to IFC, CAG 11 granted IFC “initial access to a relatively small set of data files for Project Victory.” 12 ECF No. 32 at 6. McKay recalled: 13 Based on Mr. Graham’s statements, I understood that CAG had received these data files from the Verbrugge and Larson families, two 14 of the sellers, and that CAG had not compiled this information. The information provided in these data files was general in nature and 15 included descriptions of the properties, spreadsheets showing how many acres of which fruit each orchard had, and other general business 16 information. The information in these initial data files generally described the businesses, but it was insufficient for IFC to evaluate and 17 analyze the suitability of [sic] feasibility of purchasing the assets, and IFC did not form a position based on these files. IFC did not rely on 18 the information contained in these initial data files provided for Project Victory page [sic] in making the ultimate decision regarding purchase 19 of the assets.

20 ECF No. 32 at 6. 21 1 Once IFC executed Exhibit A on September 22, 2017, CAG transmitted a 2 “Confidential Information Memorandum” (“CIM”) to McKay later that day. ECF 3 No. 32 at 7; see also ECF Nos. 33 at 4; 36 at 3. The CIM was prepared by Moss 4 Adams Capital (“Moss Adams”) and analyzed the assets comprising Project Victory,

5 but which the CIM renamed “Project Crisp.” ECF Nos. 32 at 7; 36 at 3. The CIM 6 identified the three assets for sale, the same assets that had been identified as Project 7 Victory. ECF Nos. 25-4 at 9; 32 at 7. The CIM provided that the sellers had

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Columbia AG Group, LLC v. International Farming Corporation, LLC, Counsel Stack Legal Research, https://law.counselstack.com/opinion/columbia-ag-group-llc-v-international-farming-corporation-llc-waed-2020.