The Andersons Acquires Majority Stake in Skyland Grain, Expands Reach in Key US Markets

Author: Benzinga Newsdesk | November 04, 2024 07:52am

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.

Posted In: ANDE