MAUMEE, Ohio, Dec. 9, 2013 /PRNewswire/ -- The Andersons,
Inc. (Nasdaq: ANDE) announces today it has purchased the assets of
the granulation manufacturer Cycle Group, Inc.
(Logo:
http://photos.prnewswire.com/prnh/20081104/CLTU081LOGO)
"This opportunity expands the reach for our Turf & Specialty
Group's granulation business into a strategic geographic location
that will help us better serve our customers," says CEO
Mike Anderson. "In addition, we will
be increasing our production and distribution capabilities,
obtaining intellectual property and expanding our presence in the
high-value markets of the granular business."
The purchase includes a modern facility in Mocksville, North Carolina, capable of
producing 22,000 tons of granulated products with a workforce of 12
employees. In addition, The Andersons will assume and market the
Cycle Group's EcoGranule brand.
"This acquisition supports our growth strategies for our premium
granulation business and provides the potential for further product
production in the future," says Tom
Waggoner, President, Turf & Specialty Group. "Cycle
Group's reputation for producing a high-quality, patented product
in an environmentally safe manner is a good fit for us."
About The Andersons, Inc.
The Andersons, Inc. is a
diversified company rooted in agriculture. Founded in Maumee, Ohio, in 1947, the company conducts
business across North America in
the grain, ethanol, and plant nutrient sectors, railcar leasing,
turf and cob products, and consumer retailing. For more
information, visit The Andersons online at
www.andersonsinc.com.
SOURCE The Andersons, Inc.