US agribusiness The Andersons Inc announced on 15 October that it would acquire the remaining 67.5% of Lansing Trade Group that it did not already own for about US$305M.

The transaction is expected to close before 31 January next year, subject to Lansing shareholder approval and regulatory approvals.

"This acquisition creates a grain business of highly complementary assets with greater scale that significantly expands our reach in the agricultural marketplace," said Pat Bowe, president and CEO of The Andersons.

The Andersons provides merchandising and services to the grain and oilseeds industry and operates four ethanol plants in the USA. It owns grain terminals in eight states including Ohio, Michigan, Indiana, Illinois, Iowa, Nebraska, Tennessee and Texas which accept corn, soyabean and wheat commodities, with a storage capacity of more than 143M bushels. Italso has a fleet of more than 23,000 railcars and locomotives that it leases and manages.

Lansing trades grains and oilseeds across North and South America, Asia, Europe and North Africa and also offers logistics services via truck, rail, barge, container and dry bulk shipments. It trades soyabeans, non-GMOs and food-grade soyabeans in the USA, Canada and Asia. It also has rail car assets, leased ethanol storage space and owns approximately 55M bushels of grain storage space, trading more than one billion bushels of grain in 2017.

"The full integration of Lansing will accelerate execution of our strategic intention to grow income from originations and managing grain assets, expand trading and risk management services, and broaden our food ingredients and specialty grains and feed ingredients platform," said Corey Jorgenson, president of The Andersons grain group.