Andersons, Lansing Trade Group to acquire Canadian grain handler
By Amanda Brodhagen, Farms.com
Andersons Inc. and Lansing Trade Group announced Monday that they have entered into an agreement to acquire Thompsons Ltd., a grain handler and agronomy provider headquartered in Blenheim Ontario. Thompsons operates 12 locations across Ontario and in Minnesota.
The acquisition deal remains subject to several closing conditions, and is expected to close in the third quarter. Andersons and Lansing will equally own the entity, which will continue to operate under the name Thompsons Ltd. Thompsons was established in 1924, operates 12 elevators, 11 retail centers, 2 seed processing plants, 5 bean processing plants and one wheat processing plant. The company has a grain storage capacity of 20 million bushels and 30,00 metric tons of nutrient input capacity.
In a news release, Mike Anderson, the CEO of Anderson Inc. says "this acquisition establishes a foothold in Ontario with a similarly diversified agricultural company adjacent to our eastern corn-belt roots. It also enables us to leverage our strengths with those of our partner Lansing Trade Group.”
The figure of the purchase has yet to be disclosed.