Expanded Canadian presence seen as part of long-term strategy
One of the largest dry bean processing companies in Canada has been sold to U.S. interests.
The Andersons, Inc. out of Ohio and Lansing Trade Group from Kansas have signed an agreement to purchase Thompsons Ltd. of Blenheim, Ont.
Thompsons owns 12 elevators, 11 farm input centres, two seed processing plants, five bean processing plants and a wheat processing plant.
All of the firm’s assets are located in Ontario with the exception of one bean processing facility in East Grand Forks, Minnesota.
Wes Thompson, president of Thompsons, said the buyers were a good fit.
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“Our companies have very similar cultures and have a strong commitment to providing outstanding customers service,” he said in a news release.
Thompsons has a combined owned and leased grain storage capacity of 20 million bushels.
“For The Andersons, this acquisition establishes a foothold in Ontario with a similarly diversified agricultural company adjacent to our eastern corn belt roots,” said The Andersons chief executive officer Mike Anderson.
Bill Krueger, president of Lansing Trade Group, had similar thoughts about the acquisition.
“The opportunity for Lansing to grow our existing Canadian presence with such a cornerstone company fits out long-term strategy,” he said.
