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Transfer of ownership and operation slated for May 22.
May 21, 2018
The Mennel Milling Co. has entered into a tentative agreement with Keynes Brothers Inc. to acquire the Ohio-based company. The transfer of ownership and operation of Keynes Brothers’ assets is slated to become final May 22, 2018.
As part of the merger, Mennel will expand its footprint in southern Ohio with the addition of a flour mill in Logan and three country elevators in Atlanta, Jeffersonville and Radnor. A fourth elevator will become part of Mennel’s Valley Grain elevator in Kingston, Ohio. The deal also includes much of Keynes Brothers’ transportation division.
“After we became aware of their decision to sell their milling, grain and transportation operations, we inquired about a potential merger/acquisition,” Mennel Milling president Ford Mennel said. “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 Milling, Keynes Brothers is comprised of five generations of family leadership as well as more than a century’s worth of flour milling experience. Mennel Milling 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. We feel confident that they will provide a seamless transition for those impacted,” said Bill Keynes Jr. of Keynes Brothers. “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 Milling is working with Keynes to hire members of its team to fill approximately 50 area positions.
“We’re truly excited to welcome Keynes Brothers to the Mennel family,” Ford 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.”
Headquartered in Fostoria, Ohio, and spanning six states, Mennel Milling is currently comprised of six state-of-the-art flour mills, 10 country grain elevators, two trucking companies, a bakery mix facility, a popcorn facility and several other service-centered businesses.
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