THE Andersons Inc. announced June 3 that it will partner with Lansing Trade Group to acquire Thompsons Ltd., a grain and food-grade bean handler headquartered in Blenheim, Ont.
Thompsons, which operates a dozen locations in Canada and the U.S., will be equally owned by both companies upon closing sometime during the third quarter.
This is the first foray into Ontario for Ohio-based Andersons.
"For The Andersons, this acquisition establishes a foothold in Ontario with a similarly diversified agricultural company adjacent to our eastern Corn Belt roots," chief executive officer Mike Anderson said, adding that the deal will leverage the strengths of his company with those of Lansing.
"Thompsons is a highly respected, integrated grain, food and agronomy business with a similar strategy of cultivating and maintaining strong relationships with growers and end users globally," he added.
Lansing CEO Bill Krueger noted that partnership with The Andersons will facilitate an immediate growth in the firm's crop nutrients sector and said Thompsons will benefit from its new parent companies' combined strengths in grains, food-grade products and farm services.
Thompsons owns and operates 12 elevators, 11 retail farm centers, two seed processing plants, five bean processing plants and a wheat processing plant. The company has a combined grain storage capacity of 20 million bu. as well as 30,000 metric tons of nutrient capacity.