The Manitowoc facility includes 4.5 million bushels of grain storage capacity, with access to marine, rail and trucking modes of transportation, and several old malt houses, all of which were disabled prior to closing.
“The timely acquisition of Manitowoc provides us with some excellent assets in Wisconsin to complement our existing network of storage operations,” said Don Grambsch, president and chief executive officer of Riverland Ag.
“These topnotch handling and storage facilities, combined with the high quality and consistency of local crop production, provide us with exciting growth opportunities for our supply chain management business with leading food and beverage companies,” said Michael Detlefsen, president of Ceres.
This transaction is expected to be accretive to earnings.
