The Andersons, Inc.
"The acquisition of HBI's Fertilizer Division enhances the core business of our Plant Nutrient Group (PNG) and extends our geographic footprint beyond the Eastern Corn Belt," says CEO Mike Anderson. "This well-respected organization brings with it a quality customer base that we are looking forward to serving."
The acquisition of this leading regional wholesale supplier of liquid fertilizers, includes strategically located facilities with 145,000 tons of storage capacity in Wisconsin and Minnesota, which generated $60 million in revenue in 2008. This acquisition increases the overall Plant Nutrient capacity by nearly 20 percent.
The Andersons Plant Nutrient Group formulates, stores and distributes 2 million tons of liquid and dry nutrients (fertilizer) to agribusiness and industrial accounts through 19 wholesale distribution terminals in Ohio, Michigan, Indiana, Illinois, Florida and Puerto Rico. The Group also operates 11 full-service retail farm centers serving Michigan, Ohio, Indiana and Florida.
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 14 U.S. states and Puerto Rico, plus rail equipment leasing interests in Canada and Mexico. For more information, visit The Andersons online at www.andersonsinc.com.
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SOURCE: The Andersons, Inc.
CONTACT: Gary L. Smith, VP, Finance & Treasurer, +1-419-891-6417,
Web Site: http://www.andersonsinc.com/