Gavilon to acquire grain elevators in Illinois
May 14, 2010
by Eric Schroeder
OMAHA — Gavilon Grain, L.L.C. has reached agreement with Galesburg Order Buyers, Inc., Galesburg, Ill., to acquire the latter’s west-central Illinois assets, including eight grain elevators and one receiving station.
The elevators have combined storage capacity of approximately 14.6 million bus. Galesburg Order does business as GrainStore Elevators.
“GrainStore has maintained top quality facilities that are strategically located in one of the highest yielding corn and soybean production areas in the United States,” said Greg Konsor, vice-president and general manager of Gavilon Grain. “GrainStore’s physical footprint, sound business practices and strong financial performance make the company’s grain elevators an attractive addition to our network of 74 facilities across the United States.”
Marty Anderson, president of GrainStore, said the transaction will provide GrainStore access to “a multitude of resources that will allow us to enhance our services for customers. In addition, this partnership will enable GrainStore to pursue opportunities in Illinois and further expand the business.”
Under terms of the agreement all GrainStore forward purchase and sales contracts will be assumed by Gavilon.
The transaction is expected to be completed by the end of May.