OMAHA — The Scoular Co. and Johnson Grain, L.L.C. of Waverly, Ill., have agreed to form a new joint venture that will own and operate grain handling assets in Central Illinois. Financial terms of the transaction, which is expected to close in February, were not disclosed.
The grain handling assets to be jointly owned and operated include three elevators previously managed by Johnson Grain. Scoular’s elevators in Illinois are not included in the venture.
Todd McQueen, senior vice-president at Scoular, said the two companies have enjoyed a close trading relationship for many years and are pleased to take the next step of uniting regional operations.
Jay Johnson, president of Johnson Grain and soon-to-be general manager of the joint venture, said the move was a fit for Johnson Grain as it looks to bring expanded service, more markets and better grain value to its local producers and economy.