Green Plains Renewable Energy just announced that they will be acquiring agribusiness operations from the Tom Wade family and Farmers Grain of Trenton, LLC.

Under the terms of the agreement, Green Plans Renewable Energy will purchase 5 grain elevators located within a 50-mile radius of Green Plains’ Obion, Tennessee plant. The elevators can store 11.7 million bushels of grain, bringing the company’s total storage capacity to 30.3 million bushels. The company is also acquiring additional agribusiness assets like grain and fertilizer inventories.

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In a press release, Todd Becker, Green Plains’ President and CEO, commented on the acquisition:

“We are pleased to add these strategic assets to our diversified platform. Expanding our agribusiness operations around our ethanol production facilities enables us to strengthen relationships with local producers and allows us to source corn more effectively.”