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Total Grain Marketing (TGM), a venture of Growmark Inc., Illini FS, South Central FS and Wabash Valley Service Co., yesterday announced the acquisition of grain assets from The Andersons Inc. in Champaign, Illinois.
The site has more than 16 million bushels of storage capacity, making it the largest grain elevator by upright storage in Illinois.
Financial terms were not disclosed.
"The Andersons facility and assets in Champaign complements Total Grain Marketing’s existing portfolio," said Growmark Grain Division Executive Director Matt Lurkins in a press release. "Our goal is to deliver an unsurpassed customer experience through local grain market expertise along with merchandising flexibility to help deliver increased profitability for customers."
The Andersons opened the grain elevator at Champaign in 1968.
"We value the relationships that have been built and are pleased that these customers will continue to be served by Total Grain Marketing," said Bill Krueger, president of The Andersons Trade and Processing. "This sale represents a step in optimizing our portfolio in support of our ongoing strategy to be the most nimble and innovative North American supply chain company in the ag industry."
The Andersons will continue to own and operate the bulk fertilizer business in the Champaign complex.
The acquisition also opens a new rail market for TGM by expanding access to poultry markets throughout the United States, company officials said.