MAUMEE, Ohio, May 18, 2015 /CNW/ -- The Andersons, Inc.
(Nasdaq: ANDE) announces its purchase of Kay Flo Industries of
North Sioux City, S.D.
"This acquisition is an excellent strategic fit for our Plant
Nutrient Group and is consistent with our plans to expand our
wholesale and specialty fertilizer business," says CEO Mike Anderson. "As a family-owned business with
a history of nearly 90 years and a similar philosophy in providing
exceptional customer service, Kay
Flo is an excellent cultural fit."
Kay Flo, through its Nutra-Flo
Division, is the leading U.S. manufacturer of premium liquid
starter fertilizers and is also a leading manufacturer and
formulator of micronutrient enriched plant nutrients. Nutra-Flo
serves hundreds of growers, ranchers, and agribusinesses throughout
the Western Corn Belt with these products along with its
conventional fertilizers.
Raun Lohry, former CFO of
Kay Flo who will remain on as V.P.
and General Operations Manager, adds, "We are pleased to have The
Andersons carry on our legacy and the relationships we've built
with our customers and employees. We are confident in the
opportunities this acquisition will provide to both our employees
and our customers."
The purchase includes a state-of-the-art R&D laboratory and
three plant nutrient manufacturing and distribution assets with
more than 100,000 tons of tank storage that produce average annual
sales of more than 200,000 tons of liquid fertilizers located in
Iowa and Nebraska. The animal nutrient portions of
Kay Flo have been separated and are
not a part of the acquisition.
"In addition to providing extraordinary service to our
customers, we expect to grow our national sales and distribution
opportunities. This now puts us as one of the largest manufacturers
of traditional row starters and the leading manufacturer of
specialty nutrients," says Bill
Wolf, President of The Andersons' Plant Nutrient
Group.
The Andersons will host a webcast on Tuesday, May 19, 2015 at 4:00 P.M. ET, to discuss this acquisition. This
can be accessed under the heading "Investor" on its website at
www.andersonsinc.com.
About The Andersons, Inc.
Founded in Maumee, Ohio, in 1947, The Andersons is a
diversified company rooted in agriculture conducting business
across North America in the grain,
ethanol, plant nutrient and rail sectors. The Company also has a
consumer retailing presence. For more information, visit The
Andersons online at www.andersonsinc.com.
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SOURCE The Andersons, Inc.