"We believe the sale of these assets to MaxYield provided the best solution for the operation of these facilities as well as for employees and customers," said Pat Bowe, chief executive officer.
Howard Haas, board chairman of MaxYield, said, "We are excited about the opportunity to expand our presence in an area already served by MaxYield. MaxYield currently has facilities in 17 rural communities and has 1,700 members, many of which will have increased access to grain, agricultural inputs and services as a result of this transaction."
The Andersons acquired the eight grain and agronomy locations as a part of its 2012 acquisition from Green Plains Grain Company. The Tennessee assets acquired during that same transaction will remain a part of The Andersons. This transaction does not divest or otherwise involve the company's ethanol facility or recently-acquired Nutra-Flo facilities in Iowa.