The Andersons, Inc. Signs Agreement to Acquire Douglass Fertilizer & Chemical

PRNewswire-FirstCall
MAUMEE, Ohio
Apr 29, 2008

The Andersons, Inc. today announced it has acquired Douglass Fertilizer & Chemical, Inc. as an addition to its Plant Nutrient Group.

"Douglass Fertilizer will be an excellent addition to our Plant Nutrient Group's product and service offering," said CEO Mike Anderson. "Douglass Fertilizer will nicely diversify the group's product line offering and expand our market outside the traditional Midwest row crops and into Florida's rich specialty crops."

Douglass Fertilizer, based in Maitland, Fla., is primarily a specialty liquid nutrient manufacturer, retailer and wholesaler serving a variety of agricultural and to a lesser degree industrial and turf markets primarily in Florida, the southeast U.S. and the Caribbean.

"I am pleased to be able to transition Douglass Fertilizer to such a quality company as The Andersons," said Chairman and CEO Spencer Douglass. "The two companies have very similar cultures dedicated to customer service, quality, community involvement and employee development which Joe Hodges and I believe will be the basis for its continued success and rewarding relationships with our customers, employees, communities and suppliers."

Douglass President Joe Hodges added, "This is a great opportunity for Douglass Fertilizer to further build upon the tremendous growth of our diversified business units. I look forward to combining our talented management team and dedicated employees with The Andersons and growing the newly established southern region."

About Douglass Fertilizer & Chemical, Inc.

Douglass Fertilizer is a leading specialty liquid nutrient manufacturer, retailer primarily serving Florida and to a lesser degree the Southeastern U.S. and the Caribbean. The company serves the agricultural market including fruit, vegetables, citrus, pasture and sugarcane as well as turf and ornamental markets through its Liquid Ag Systems business unit and in the industrial and wholesale specialty agricultural markets through its Applied Solutions & Technologies business unit. All business units are supported by five production facilities in Florida and a distribution terminal in Puerto Rico. Generating revenues of $48 million in 2007, the company distributes about 140,000 tons of nutrients annually. For more information, visit Douglass Fertilizer online at http://www.douglassfertilizer.com/ .

About The Andersons, Inc.

The Andersons, Inc. is a diversified company with interests in the grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as in railcar leasing and repair, turf products production, and general merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now has operations in eight U.S. states plus rail leasing interests in Canada and Mexico. For more, visit The Andersons online at http://www.andersonsinc.com/ .

First Call Analyst:
FCMN Contact:

SOURCE: The Andersons, Inc.

CONTACT: Gary L. Smith, VP, Finance & Treasurer of The Andersons, Inc.,
+1-419-891-6417, gary_smith@andersonsinc.com


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