As part of the merger, Mennel will expand with the addition of a flour mill in Logan, Ohio, which has a wheat flour capacity of 8,600 cwts and a total storage capacity of 4.11 million bus; and three country elevators in Atlanta, Ohio, Jeffersonville, Ohio and Radnor, Ohio; with a fourth elevator to become part of Mennel’s Valley Grain elevator in Kingston, Ohio. The deal also includes much of the Logan, Ohio, U.S.-based company’s transportation division.
“After we became aware of their decision to sell their milling, grain and transportation operations, we inquired about a potential merger/acquisition,” said Ford Mennel, president of The Mennel Milling Co. “We are grateful for the opportunity to partner with the Keynes family and their team moving forward. The entire Keynes Brothers team should be commended for the exceptional stewardship of the company.”
Photo courtesy of Mennel Milling.
“It was after thoughtful consideration, we made the tough yet strategic decision to sell Keynes Brothers to Mennel,” said Bill Keynes Jr., Keynes Brothers Inc. “We feel confident that they will provide a seamless transition for those impacted. Our family has maintained a longtime relationship with the Mennel family, which made them a natural choice for this transaction. We know they will make best use of our facilities as it fits into the company’s footprint and mission to take care of its people.”
Mennel is working with Keynes to hire members of their team to fill approximately 50 area positions.
“We’re truly excited to welcome Keynes Brothers to the Mennel family,” Ford Mennel said. “With the resources of our growing company and the added experience of the Keynes team, we believe we can continue the Keynes legacy in the industry and remain a pillar in the community for many years to come.”
According to Sosland Publishing Company’s 2018 Grain & Milling Annual, Mennel has a total of 10 grain storage facilities and a total licensed storage capacity of 16.625 million bushels. The company also operates five flour mills with total wheat flour capacity of 40,900 cwts and grain storage capacity of 8.108 million bushels. If the acquisition is completed, Mennel’s total wheat flour capacity would climb to 49,500 cwts with the addition of Keynes Brothers’ 8,600-cwt flour mill in Logan, according to the GMA.
Now in its fifth generation, Mennel has 500 employees and consists of 5 ?our mills; 10 country grain elevators; two trucking companies; two bakery mix facilities; a popcorn plant; among other businesses.