Fisher Mills sells milling assets to Pendleton, Milner

by Emily Wilson
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A new flour milling partnership between the Pendleton Flour Mills division of Kerr Pacific Corp. and the Milner Milling division of Southeastern Mills, Inc. has signed an agreement to acquire the Seattle and Blackfoot, Idaho, flour mills of Fisher Mills, Inc. The two mills have combined daily capacity of 33,000 cwts.

The purchase price was not disclosed, but the Seattle Post-Intelligencer placed the value of the transaction at U.S.$31 million.

The partnership, known as Pendleton Flour Mills L.L.C., also will acquire the milling equipment and related assets of Fisher's smaller flour mills at Portland, Oregon, and Modesto, California, but not the mills themselves.

The acquisition is expected to close by the end of April.

In addition to Pendleton Flour Mills' 6,000-cwt plant at Pendleton, Oregon, Kerr Pacific owns a wheat flour mill in Honolulu, Hawaii, with a daily milling capacity of 2,200 cwts.

Southeastern Mills operates a 9,000-cwt mill under the corporate name at its headquarters location in Rome, Georgia, in addition to its Milner Milling operation at Barnesville, Georgia, which has daily milling capacity of 14,000 cwts.

Fisher Communications, Inc., the parent of Fisher Mills, said the sale of its milling assets was part of a larger restructuring to concentrate on communications and media.

Fisher Mills is ranked as the eighth-largest U.S. flour miller, in terms of capacity, according to the 2001 Grain & Milling Annual.