MAUMEE, Ohio, April 29 /PRNewswire-FirstCall/ -- The Andersons, Inc.
(Nasdaq: ANDE) today announced it has acquired Douglass Fertilizer &
Chemical, Inc. as an addition to its Plant Nutrient Group.
"Douglass Fertilizer will be an excellent addition to our Plant
Nutrient Group's product and service offering," said CEO Mike Anderson.
"Douglass Fertilizer will nicely diversify the group's product line
offering and expand our market outside the traditional Midwest row crops
and into Florida's rich specialty crops."
Douglass Fertilizer, based in Maitland, Fla., is primarily a specialty
liquid nutrient manufacturer, retailer and wholesaler serving a variety of
agricultural and to a lesser degree industrial and turf markets primarily
in Florida, the southeast U.S. and the Caribbean.
"I am pleased to be able to transition Douglass Fertilizer to such a
quality company as The Andersons," said Chairman and CEO Spencer Douglass.
"The two companies have very similar cultures dedicated to customer
service, quality, community involvement and employee development which Joe
Hodges and I believe will be the basis for its continued success and
rewarding relationships with our customers, employees, communities and
suppliers."
Douglass President Joe Hodges added, "This is a great opportunity for
Douglass Fertilizer to further build upon the tremendous growth of our
diversified business units. I look forward to combining our talented
management team and dedicated employees with The Andersons and growing the
newly established southern region."
About Douglass Fertilizer & Chemical, Inc.
Douglass Fertilizer is a leading specialty liquid nutrient
manufacturer, retailer primarily serving Florida and to a lesser degree the
Southeastern U.S. and the Caribbean. The company serves the agricultural
market including fruit, vegetables, citrus, pasture and sugarcane as well
as turf and ornamental markets through its Liquid Ag Systems business unit
and in the industrial and wholesale specialty agricultural markets through
its Applied Solutions & Technologies business unit. All business units are
supported by five production facilities in Florida and a distribution
terminal in Puerto Rico. Generating revenues of $48 million in 2007, the
company distributes about 140,000 tons of nutrients annually. For more
information, visit Douglass Fertilizer online at
http://www.douglassfertilizer.com .
About The Andersons, Inc.
The Andersons, Inc. is a diversified company with interests in the
grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as
in railcar leasing and repair, turf products production, and general
merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now
has operations in eight U.S. states plus rail leasing interests in Canada
and Mexico. For more, visit The Andersons online at
http://www.andersonsinc.com .
SOURCE The Andersons, Inc.
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Related links:
http://www.andersonsinc.com
http://www.douglassfertilizer.com
CONTACT:
Gary L. Smith, VP, Finance & Treasurer of The
Andersons, Inc., +1-419-891-6417, gary_smith@andersonsinc.com
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