MAUMEE,
Ohio, Nov. 4, 2024 /PRNewswire/ --
The Andersons, Inc. (Nasdaq: ANDE) announced they have
finalized the acquisition of a majority ownership in Skyland Grain, LLC.
The transaction enables The Andersons to expand its core grain
and fertilizer businesses across strategic markets, including
Kansas, Oklahoma, Colorado, and Texas. At the same time, Skyland will benefit
from access to The Andersons extensive portfolio of assets and
capabilities.
"With Skyland becoming part of The Andersons, we are confident
that we are well-positioned to capitalize on the significant
opportunities in this region, which boasts the fastest-growing feed
demand in the country," said Bill
Krueger, president and CEO of The Andersons. "Skyland's
strong farmer relationships and core assets in grain, agronomy,
cotton, and fuel, combined with our grain merchandising presence
across the U.S. make this a powerful combination. Further, by
bringing together our agronomy businesses, we not only double the
size of The Andersons retail farm center business, but our combined
buying power and expansive reach will create new opportunities for
our customers, enhancing their competitiveness across the North
American agricultural supply chain."
"We are excited to join forces with The Andersons," said
Pete Goetzmann, CEO of Skyland.
"Their asset footprint is a strong complement to ours, offering our
producers greater access to the best markets. As a leader in the
grain trade with a proven track record, The Andersons merchandising
expertise, combined with Skyland's deep local market knowledge and
customer base, creates a powerful synergy that aligns perfectly
with our mission of connecting our producers to the world."
Skyland has more than 7,000 active co-op members across over 50
grain and agronomy locations. Skyland was advised on the
transaction by Ascendant Partners, LLC and FTI Consulting, Inc.
About The Andersons, Inc.
The Andersons, Inc., named
in 2024 to Forbes list of America's Most Successful Small
Companies, Newsweek's list of America's Most Responsible Companies,
and one of The Americas' Fastest Growing Companies by the Financial
Times, is a diversified company rooted in agriculture that conducts
business in the commodity merchandising, renewables, and nutrient
& industrial sectors. Guided by its Statement of Principles,
The Andersons is committed to providing extraordinary service to
its customers, helping its employees improve, supporting its
communities, and increasing the value of the company. For more
information, please visit www.andersonsinc.com.
About Skyland Grain,
LLC
Skyland operates grain storage and handling facilities
at 50 locations in Kansas,
Colorado, Oklahoma, and Texas. It also operates three cotton gins, a
full-service agronomy sales and service division, and a retail and
wholesale fuel sales and delivery division. Skyland also owns a
majority interest in Heartland Soil Services, LLC, a precision
agronomy testing, data analysis, and consulting company with
operations in five states. For more information, please visit
www.skylandgrain.com.
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SOURCE The Andersons, Inc.