Cargill sells its Martinsburg, Pennsylvania-based feed mill and grain elevator to Holtwood, Pennsylvania-based Risser Grain; transaction terms not disclosed
September 3, 2013
– Cargill today announced it has sold its Martinsburg, Pa.-based feed mill and grain elevator to Holtwood, Pa.-based Risser Grain, LLC.
Under the terms of the agreement, Risser Grain is acquiring the property and assets such as machinery and equipment. The sale closed today.
Cargill acquired the Martinsburg facility in January 2013 upon securing the winning bid to acquire the feed mill assets of Pennfield Corporation in a bankruptcy proceeding.
Concurrent with the sale, Risser is entering into an agreement with New Enterprise, Pa.-based Key State Ag Service, LLC. Under this agreement, Key State will shift its retail agriculture business operations from New Enterprise to the Martinsburg facility, and will manufacture feed products for Cargill from the new location. Risser will operate the grain elevator portion of the facility. All full-time employees affected were offered positions with Key State Ag Service.
“After acquiring the Pennfield operations, it was important for us to sort through and understand the long-term needs of this marketplace. We wanted to ensure that we partnered with an organization that could provide Cargill and its customers the grain banking solutions that are needed,” said Rob Sheffer, group director of Cargill Feed & Nutrition United States. “In the end, we are pleased that we are selling the operation to a respected organization that has a track record of long-term success in grain banking and feed manufacturing. This facility will continue to be an important partner for Cargill to provide solutions into the Martinsburg community.”
Erin Edwards, (952) 984-0448, email@example.com
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Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 140,000 people in 65 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to applying its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business. For more information, visit Cargill.com and its news center.