The Andersons Signs Agreement to Purchase the Assets of Mt. Pulaski Products, LLC
MAUMEE, Ohio, Oct. 1, 2012 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announces today it has signed a definitive agreement to purchase substantially all of the assets of Mt. Pulaski Products, LLC. The transaction, which remains subject to certain conditions, is anticipated to close in the fourth quarter.
"This acquisition aligns with our growth strategies for our cob products business," says CEO Mike Anderson. "We will be doubling our raw cob supply which enables us to enhance the service to our existing customers and expand our presence in the higher value segments of this business."
If acquired, the assets of Mt. Pulaski Products, LLC, will operate within The Andersons Turf & Specialty Group, Cob Division.
"These two facilities are ideally positioned in the center of Illinois seed corn production areas with freight and logistical benefits," says Tom Waggoner, President, Turf & Specialty Group. "The combination of these mills with our existing mill in Delphi, Indiana, enables us to optimize capacity as well as enhance service to our customers. We will be the sole cob processor and product manufacturer in the industry with multiple mills."
About The Andersons, Inc.
The Andersons, Inc. is a diversified company rooted in agriculture. Founded in Maumee, Ohio, in 1947, the company conducts business across North America in the grain, ethanol, and plant nutrient sectors, railcar leasing, turf and cob products, and consumer retailing. For more information, visit The Andersons online at www.andersonsinc.com.
SOURCE The Andersons, Inc.