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Barnwell Industries is an off-the-beaten path company and clearly thereâs risk here that management and the board do not perform and take a status quo approach. In such a small company, with so many different kinds of businesses as moving parts, thatâs a big concern. But, this is a great candidate for activism.
In 1968, the company made a deal with Acme Brick, another Fort Worth company with pioneering roots, to form Justin Industries. Nocona Boot Company became part of Justin Industries when John Jr. purchased the controlling shares from his aunt, Enid Justin, in 1981. Three years later, Chippewa Shoe Company was added to the Justin family of brands.