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The Andersons acquire plant nutrients business of Kay Flo; animal nutrients business reorganized as Kay Dee LLC.
May 19, 2015
The Andersons Inc. announced its purchase of Kay Flo Industries of North Sioux City, S.D., and subsequently, the animal nutrients business formerly run under Kay Flo has been reorganized under a new name, Kay Dee LLC.
A.W. Lohry founded Kay Dee Feed in 1928, which evolved into Kay Flo in the 1970s. Eric Lohry, A.W. Lohrys grandson, has acquired all assets of the animal nutrients business, which now encompasses a family of brands including Kay Dee Feed, UltraPhos, NF Protein, DPS and Nutraferma.
"We are excited to be able to build upon a long tradition of customer focus, product innovation and intensive research and development," Lohry said. "Our single mission now will be to create technologically advanced and research-proven products for the animal feed industry."
Kay Dee LLC was formed in concurrence with the sale of Kay Flo to The Andersons, which was announced May 18, and will retain all related animal nutrient companies, product lines and facilities.
Lohry said the sale of the fertilizer side of the business will allow the newly formed company to continue its legacy in a more focused and strategic way.
Kay Dee owns and operates five manufacturing facilities; two are in Sioux City, Iowa, and one in Nevada, Mo., along with two joint venture facilities in North Sioux City, S.D., and Jiangsu, China.
"This exciting change will offer a real advantage to our customers," Lohry said. "What we were great at before, we will become even better going forward — we have exciting expansion plans right on the horizon."
"This acquisition is an excellent strategic fit for our Plant Nutrient Group and is consistent with our plans to expand our wholesale and specialty fertilizer business," The Andersons chief executive officer Mike Anderson said. "As a family-owned business with a history of nearly 90 years and a similar philosophy in providing exceptional customer service, Kay Flo is an excellent cultural fit."
Kay Flo, through its Nutra-Flo Division, is the leading U.S. manufacturer of premium liquid starter fertilizers and is also a leading manufacturer and formulator of micronutrient enriched plant nutrients. Nutra-Flo serves hundreds of growers, ranchers, and agribusinesses throughout the Western Corn Belt with these products along with its conventional fertilizers.
Raun Lohry, former chief financial officer of Kay Flo who will remain on as vice president and general pperations manager, added, "We are pleased to have The Andersons carry on our legacy and the relationships we've built with our customers and employees. We are confident in the opportunities this acquisition will provide to both our employees and our customers."
The purchase includes a state-of-the-art research and development laboratory and three plant nutrient manufacturing and distribution assets with more than 100,000 tons of tank storage that produce average annual sales of more than 200,000 tons of liquid fertilizers located in Iowa and Nebraska.
"In addition to providing extraordinary service to our customers, we expect to grow our national sales and distribution opportunities. This now puts us as one of the largest manufacturers of traditional row starters and the leading manufacturer of specialty nutrients," Bill Wolf, president of The Andersons' Plant Nutrient Group, said.
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