OVERLAND PARK, KAS. — Lansing Trade Group, L.L.C., a commodity merchandising company largely focused on the movement of physical commodities such as grain and feed ingredients, has agreed to acquire the grain and feed ingredient trading businesses of Interstate Commodities, Inc., Troy, N.Y. Financial terms of the transaction, which is expected to close early in the third quarter, were not disclosed.
“Interstate’s trading business has a longstanding and well-respected reputation in the agriculture markets,” said Bill Krueger, president and chief executive officer of Lansing Trade Group. “Both Lansing and Interstate believe the industry needs consolidation and want to be out at the forefront of a more efficient and customer focused business model.”
Greg Oberting, c.e.o. of Interstate, said the two companies have had a strong relationship for decades and believe now is the right time to combine.
“As a combined company, we will be able to grow both organically and through additional acquisitions,” Mr. Oberting said.
The companies said they expect their customers to continue to see a high level of customer service from the combined business, along with now having access to both origins and destinations across a network that encompasses all North America.
Headquartered in Overland Park, Lansing Trade Group has 15 North American offices as well as offices in London, Germany, Brazil and Singapore.Founded in 1947 and headquartered in Troy, Interstate is engaged in the origination, merchandising, logistics and risk management of grain and feed ingredients for producers and consumers domestically and internationally.