The Andersons Signs Letter of Intent With O'Malley Grain
Apr 14, 2010
The Andersons, Inc.
The asset purchase includes O'Malley's two facilities in Fairmont, Nebraska, and Mansfield, Illinois. Since 1981, O'Malley has been supplying consistent, high quality food-grade corn to the snack food and tortilla industries.
"This purchase is a natural extension of The Andersons' procurement and storage grain business," says Hal Reed, President of The Andersons Grain & Ethanol Group. "For decades we have been supplying corn, wheat, soybeans and oats to a number of end use domestic and foreign markets and now we are expanding our service of providing specialty grain to food producers."
Chairman and CEO Mike Anderson adds, "This opportunity is a continuation of The Andersons' strategy of investment in logical business, operational and geographic adjacencies. Essentially, the mechanisms of the business are the same as what we've been doing since our beginning. We will extend the same value system of providing exceptional customer service and enjoying lasting relationships to this new arena."
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 16 U.S. states and Puerto Rico, plus rail equipment leasing interests in Canada and Mexico. For more, visit The Andersons online at www.andersonsinc.com.
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SOURCE: The Andersons, Inc.
CONTACT: Nicholas C. Conrad, VP, Finance & Treasurer of The Andersons,
Web Site: http://www.andersonsinc.com/