GROWMARK System purchases SemFuel , L.P. retail business
Nov. 25, 2009
BLOOMINGTON, Ill. - GROWMARK, Inc., Bloomington, Ill., purchased the Wisconsin and Michigan retail business of SemFuel, L.P., Green Bay, Wisc. The business will be operated by two GROWMARK members, Servco FS Cooperative at Antigo, Wisconsin and Frontier FS at Jefferson, Wisconsin. Terms of the transaction were not disclosed.
The SemFuel retail business includes bulk fuel plants and automated fuel sites. The bulk fuel facilities are located in Wisconsin Rapids, Waupaca, Merrill, and Oconto Falls, Wisconsin, and Escanaba, Wilson, Daggett, andKingsford, Michigan. Seven automated fueling sites are located in five communities - three in Green Bay and one each in Ashwaubenon, Wisconsin Rapids, and Appleton, Wis., and Escanaba, Mich. -- will be reopened in the near future.
Shelly Kruse, GROWMARK vice president, Midwest Retail & Acquisitions, said the acquisition will allow Servco FS Cooperative and Frontier FS to continue a long tradition of serving customers in Wisconsin.
"Frontier and Servco have a strong heritage of being reliable suppliers of quality refined fuel products and services to much of Wisconsin. The addition of the SemFuel retail business strengthens that heritage and provides consumers access to the products and services of these two cooperatives" she said.
Kruse further related the acquisition is aligned with the organization's strategic directions. "We have in place specific strategic directions regarding our business operations and expansion efforts," Kruse said. "This transaction aligned with our directions to expand our marketing territory, seek opportunities to grow and expand from our core businesses, and pursue mergers, acquisitions, and joint ventures that benefit the entire (GROWMARK) System -- all of which in turn foster a strong member system."
GROWMARK is a regional cooperative with annual sales of $6.1 billion (FY 2009 data) providing agriculture-related products and services and grain marketing in the Midwest and Ontario, Canada. FS brand farm supplies and related services are also marketed to farmers in the northeastern United States and by GROWMARK subsidiaries.
SOURCE: GROWMARK.
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