MAUMEE, OHIO, US — The Andersons, Inc. and Skyland Grain, LLC have signed a nonbinding letter of intent for The Andersons to purchase an ownership interest in Skyland, which operates grain receiving facilities in Kansas, Oklahoma, Colorado and Texas.

Under the terms of the letter of intent, The Andersons has been granted exclusivity while the parties work in good faith to negotiate a definitive agreement. Any definitive agreement would be subject to the completion of due diligence, approval of both The Andersons and Skyland’s board of directors, negotiation of documents, and any applicable – including regulatory – approvals. As a result, there can be no assurance of a definitive agreement or that the proposed transaction will be completed, the companies said.

“Our two companies are aligned in our vision to serve our local producers and expanded customer base,” said Pete Goetzmann, chief executive officer of Skyland. “This proposed transaction provides an opportunity to bring more value to our farmer-owners and to compete more effectively in the marketplace, while positioning us for the future through globally connected supply chains.”

The proposed transaction with Skyland aligns with other strategic investments for The Andersons in both its core grain and fertilizer businesses, the company said. Skyland’s asset footprint and strong grower relationships would complement the robust portfolio of assets and capabilities of The Andersons.

“Better connecting the North American ag supply to producers and providing increased access to the best markets for their products helps them be more competitive and positions us as a partner in helping make their operations successful,” said Bill Krueger, chief operating officer, The Andersons.

The Andersons, based in Maumee, Ohio, US, is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and nutrient and industrial sectors. Operating 77 grain storage facilities with 178.93 million bushels of licensed grain storage, The Andersons is listed sixth among North American grain handling companies in Sosland Publishing Co.’s 2024 Grain & Milling Annual.

Skyland Grain, based in Ulysses, Kansas, US, has cooperative roots dating to 1915 and began operation August 2004 with Johnson Cooperative Grain Co. and ADM Grain Co. as the founding parent companies. Most recently, Ag Producers Co-op became a part of the joint venture on April 1, 2021, and later merged into Skyland Co-op, Inc. on Jan. 31, 2023.