The Andersons, Inc.
The transaction includes a long-term supply agreement under which Scotts will use its proprietary manufacturing processes to produce value-added products for The Andersons. Specifically, the acquisition includes ProTurf®, Contec™, PolyS® and other brand names, the distribution network, customer lists and all trademarks, patents, technologies and copyrights associated with the professional turf market. The transaction does not include use of the Scotts® brand or any of Scotts' consumer, professional grass seed or professional horticultural businesses. Further terms of the sale were not disclosed.
"This acquisition is another important step toward achieving our strategic goal of becoming the leader in the marketing, manufacturing, logistics and distribution of golf course and other professional turf products in the U.S.," said Rick Anderson, President of The Andersons, Inc. Processing Group. "It complements the recent expansion of our production facilities to include a presence in the eastern and southern portions of the U.S. And, we continue to seek an additional production site in the west and remain open to additional acquisition opportunities."
The Andersons is now a one-stop supplier of premium turf products throughout the U.S.
"The result of this sale is a championship pairing for the professional turf industry," Anderson said. "Joining together the top names in professional turf in the United States will deliver a comprehensive product line and superior solutions to golf course superintendents and other turf pros. In addition, distributors will benefit by getting for the first time a complete product package from one company."
The Andersons, Inc. is a respected leader and dominant regional player in the grain industry. This strong position in its basic business has allowed the company to diversify into other agribusiness operations, several processsing and manufacturing businesses, and general merchandise retailing. The Andersons' Professional Turf Products Division has become the benchmark for high quality and performance with its Tee Time®, Anderson Professional Turf Products™ and other premium turf products.
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the company with the Securities and Exchange Commission.
SOURCE: The Andersons, Inc.
Contact: Christy Donovan of Lord Sullivan & Yoder, 614-825-1773, or
The Andersons, 419-891-6417, or