Lansing Trade Group LLC and Interstate Commodities Inc. announced this week that they have entered into an agreement in which Lansing will acquire materially all of the grain and feed ingredient trading businesses and associated assets of Interstate. The acquisition, which remains subject to certain customary conditions, is expected to close early in the third quarter of 2017.

“Interstate’s trading business has a long-standing and well-respected reputation in the agriculture markets,” said Bill Krueger, president and chief executive officer of Lansing. “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.”

Both companies 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 of North America.

“Lansing and Interstate have had a strong relationship for decades and believe now is the perfect time to combine our teams,” Interstate CEO Greg Oberting said. “As a combined company, we will be able to grow both organically and through additional acquisitions.”