American agribusiness The Andersons sold its grain elevator and grain assets in Champaign, IL to GROWMARK Inc. venture Total Grain Marketing, Illini FS, South Central FS, and Wabash Valley Service Company.
“We opened the grain elevator at Champaign in 1968 and grew a loyal customer base by concentrating on strong relationships and providing extraordinary service,” said Bill Krueger, president of The Andersons Trade and Processing, in a recent release announcing the transaction. “We value the relationships that have been built and are pleased that these customers will continue to be served by Total Grain Marketing. 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.”
Featuring a storage capacity of over 16 million bu, the location is the largest grain elevator by upright storage in the state, according to GROWMARK. The deal provides Total Grain Marketing with access to a rail transport to poultry markets across the United States.
“The Andersons facility and assets in Champaign complements Total Grain Marketing’s existing portfolio,” GROWMARK Grain Division Executive Director Matt Lurkins said in a statement. “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 plans to retain ownership of its bulk fertilizer business at the Champaign site.