Andersons buys cob products company
MAUMEE, Ohio — Agriculture company The Andersons has agreed to buy an Illinois corn cob products company.
The company's purchase of Mt. Pulaski Products LLC of Mount Pulaski is expected to occur in the fourth quarter and is subject to certain conditions, according to The Andersons.
"This acquisition aligns with our growth strategies for our cob products business," said Mike Anderson, chief executive officer of The Andersons in a written statement. "We will be doubling our raw cob supply which enables us to enhance the service to our existing customers and expand our presence in the higher value segments of this business."
The Andersons' corn cob-based products are manufactured for a variety of uses, including laboratory animal bedding, private-label cat litter, as well as absorbents and other products.
The assets of Mt. Pulaski Products LLC will operate within The Andersons Turf & Specialty Group, Cob Division, if the acquisition is completed. Mt. Pulaski Products has a mill in Mount Pulaski and one in Lincoln. The Andersons has a mill in Delphi, Ind.
"Both facilities are located in central Illinois seed corn production areas with freight and logistical benefits," according to Tom Waggoner, president of The Andersons' turf and specialty group.
With these mills and The Andersons' mill in Delphi, Ind., "we will be the sole cob processor and product manufacturer in the industry with multiple mills," Waggoner said.
Founded in 1947, The Andersons Inc. is headquartered in Maumee, Ohio, and is in the grain, ethanol, and plant nutrient business as well as in railcar leasing, turf, cob products and more.