MAUMEE, OHIO, US — The Andersons, Inc. on Oct. 1 announced it has acquired Capstone Commodities, LLC, a move the company said builds on its strategy to expand in its core grain and fertilizer businesses, including commodity merchandising. Headquartered in Round Rock, Texas, US, Capstone Commodities provides feed ingredients to dairies and feed mills, feed yards, and exporters predominantly within the southwestern United States.
Financial terms of the transaction were not disclosed.
“We are excited to expand our feed ingredient portfolio and geographic footprint in the Southwest,” said Eric Watts, vice president of The Andersons Trade and Processing. “As a trusted partner in the feed ingredient industry for many years, we are eager to offer greater options to our feed customers.”
Capstone Commodities will continue to operate under the Capstone name as a wholly owned subsidiary of The Andersons, Inc.
“Having worked with The Andersons for many years, I look forward to being part of the larger organization,” said Mike Rickert, president of Capstone Commodities. “This team of employees, which is among the most skilled and experienced in the industry, has been critical to our success. The market knowledge of the expanded team provides tremendous value to our customers and opens up opportunity across the trade region. I look forward to a bright future with The Andersons.”
In mid-September, The Andersons sold its Champaign, Ill.-based grain assets to Total Grain Marketing, a venture of GROWMARK, Inc., Illini FS, South Central FS, and Wabash Valley Service Co. That transaction included the largest grain elevator by upright storage in Illinois. In August, The Andersons sold its railcar leasing business to American Industrial Transport, Inc. for $550 million.