Andersons, Inc. previously owned 32.5% of Lansing Trade Group, LLC, but as of last week the company completed a purchase of the remaining shares. The company paid cash and stock valued at about $324 million for the remaining equity.
“With the completion of this acquisition, we have significantly bolstered our position in the domestic agricultural marketplace,” said Pat Bowe, president and CEO of The Andersons in a recent press release.
“We are confident that acquiring these assets, and especially hundreds of very talented people, will allow us to compete more successfully, provide greater value to more customers across an expanded platform and grow more profitably,” he continued
Most of Lansing’s business operations will merge with The Andersons Grain Group to form a division to be known as The Andersons Trade Group. This combined business will be jointly led by Corey Jorgenson, president of assets and originations and Bill Krueger, president of commodities and merchandising.
The deal closed Jan. 1, 2019.