May 5, 2009 (FinancialWire) — The Andersons, Inc. (NASDAQ: ANDE) said it has signed a definitive purchase agreement to acquire the fertilizer division of Hartung Brothers, Inc., as an addition to its plant nutrient group. The transaction is scheduled to close July 31.

Andersons CEO Mike Anderson said that the deal “is consistent with the group’s stated growth objective expanding our geographic footprint to serve more customers in the western corn-belt states of Wisconsin and Minnesota.”

The fertilizer business, which is based in Madison, Wisconsin, was founded in 1979 as a part of Hartung Brothers, a privately-owned agribusiness. The division, which is a regional wholesale supplier of liquid fertilizers, has six facilities with 145,000 tons of storage capacity in Wisconsin and Minnesota. In 2008, the division generated $60 million in revenue, according to The Andersons.

Maummee, Ohio-based The Andersons has 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.

The company has operations in 12 U.S. states and Puerto Rico, plus rail equipment leasing interests in Canada and Mexico.

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