April 23, 2010 (FinancialWire) — Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) has entered into definitive agreements to acquire agribusiness operations in west Tennessee that include five grain elevators with federally licensed grain storage capacity of 11.7 million bushels.

All the grain elevators are located within 50 miles of the company's Obion, Tennessee, ethanol production facility.

As part of the definitive agreements, the company also agreed to acquire certain grain and fertilizer inventories and other agribusiness assets.

The agribusiness assets are held by companies owned by the Tom Wade family and Farmers Grain of Trenton, LLC. The five grain elevators are located in Como, Dyer, Kenton, Trenton and Union City, Tennessee, and will be owned by Green Plains Grain Company TN LLC, a wholly-owned subsidiary of the company, and included in the company's agribusiness segment. With the addition of these agribusiness assets, the company will operate 13 grain elevators with 30.3 million bushels of grain storage capacity.

Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) is North America's fourth largest ethanol producer, operating a total of six ethanol plants in Indiana, Iowa, Nebraska and Tennessee with annual expected operating capacity totaling approximately 480 million gallons.

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