FOSTORIA, OHIO — The Mennel Milling Co. is expanding its footprint in Southern Ohio by entering into a tentative agreement to acquire Keynes Brothers Inc. The transfer of ownership and operation of Keynes Brothers’ assets is slated to finalize on May 22.
As part of the merger, Mennel will expand with the addition of a flour mill in Logan, Ohio, and three country elevators in Atlanta, Jeffersonville, and Radnor, Ohio. A fourth elevator will become part of Mennel’s Valley Grain elevator in Kingston, Ohio. The deal also includes much of the Logan-based company’s transportation division.
“After we became aware of their decision to sell their milling, grain and transportation operations, we inquired about a potential merger/acquisition,” said Ford Mennel, president of The Mennel Milling Co. “We are grateful for the opportunity to partner with the Keynes family and their team moving forward. The entire Keynes Brothers team should be commended for the exceptional stewardship of the company.”
Like Mennel, Keynes Brothers Inc. is comprised of five generations of family leadership as well as more than a century’s worth of flour milling experience. Together, Mennel plans to expand flour production and improve access to high-quality products for their customers.
“It was after thoughtful consideration, we made the tough yet strategic decision to sell Keynes Brothers to Mennel,” said Bill Keynes Jr., Keynes Brothers Inc. “We feel confident that they will provide a seamless transition for those impacted. Our family has maintained a longtime relationship with the Mennel family, which made them a natural choice for this transaction. We know they will make best use of our facilities as it fits into the company’s footprint and mission to take care of its people.”
Mennel is working with Keynes to hire members of their team to fill approximately 50 area positions.
“We’re truly excited to welcome Keynes Brothers to the Mennel family,” Mr. Mennel said. “With the resources of our growing company and the added experience of the Keynes team, we believe we can continue the Keynes legacy in the industry and remain a pillar in the community for many years to come.”
According to Sosland Publishing Company’s 2018 Grain & Milling Annual, Mennel has a total of 10 grain storage facilities and a total licensed storage capacity of 16.625 million bus. The company also operates five flour mills with total wheat flour capacity of 40,900 cwts and grain storage capacity of 8.108 million bushels. If the acquisition is completed, Mennel’s total wheat flour capacity would climb to 49,500 cwts with the addition of Keynes Brothers’ 8,600-cwt flour mill in Logan, according to the G.M.A.
Now in its fifth generation, Mennel has 500 employees and consists of 5 ﬂour mills; 10 country grain elevators; two trucking companies; two bakery mix facilities; a popcorn plant; among other businesses.