The Andersons Inc. announced May 2 that it has completed the sale of eight of its facilities in Iowa to MaxYield Cooperative of West Bend, Iowa.

"We believe the sale of these assets to MaxYield provided the best solution for the operation of these facilities as well as for employees and customers," Andersons chief executive officer Pat Bowe said.

The Andersons acquired the eight grain and agronomy locations as a part of a 2012 acquisition from Green Plains Grain Co. The Tennessee assets acquired during that same transaction will remain a part of The Andersons. This transaction does not divest or otherwise involve the company's ethanol facility or recently acquired Nutra-Flo facilities in Iowa, according to the announcement.

Founded in Maumee, Ohio, in 1947, The Andersons is a diversified company conducting business across North America in the grain, ethanol, plant nutrient and rail sectors. It also has a consumer retailing presence.