The Andersons, Inc. Has Purchased Bridge Agri Partners Inc.
The Andersons, Inc. (Nasdaq: ANDE) has acquired Bridge Agri Partners Inc., a provider of ingredients for the pet food industry.
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Rhea-AI Summary
The Andersons, Inc. (Nasdaq: ANDE) has acquired Bridge Agri Partners Inc., a provider of ingredients for the pet food industry. This strategic purchase is aimed at expanding The Andersons' pet food ingredient portfolio and enhancing their presence in the central northern U.S. and Canada. Bill Krueger, president of The Andersons Trade and Processing, emphasized the goal of offering greater options to customers. Bridge Agri Partners will continue operations under its name as a wholly owned subsidiary.
Positive
- Acquisition of Bridge Agri Partners expands the pet food ingredient portfolio.
- Enhances physical presence in central northern U.S. and Canada.
- Strengthens The Andersons' strategy in core grain and fertilizer businesses.
Negative
- None.
Details
News Market Reaction – ANDE
The recorded move for ANDE in the trading session of this news was -0.57%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MAUMEE, Ohio, Nov. 1, 2022 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announces it has purchased Bridge Agri Partners Inc. Bridge Agri Partners specializes in providing ingredients to the pet food industry.
"We are excited to expand our pet food ingredient portfolio and our physical presence in the central northern region of the U.S. and Canada," said Bill Krueger, president, The Andersons Trade and Processing. "As a trusted partner in the pet food ingredient industry for many years, we are eager to offer greater options to our customers."
This acquisition further supports The Andersons strategy to expand in its core grain and fertilizer businesses, including premium products focused on food and feed, and our vision to become the most nimble and innovative North American ag supply chain company.
"Having worked with The Andersons for many years, I look forward to being part of the larger organization," said Darwin Rusu, president, Bridge Agri Partners. "This team of skilled and experienced employees, which is among the best in the industry, has been critical to our success. Combining the market knowledge and supply chain expertise of our two companies will enhance the value we provide to current and new customers. I look forward to an exciting future with The Andersons."
Bridge Agri Partners Inc. will continue to work under the Bridge Agri Partners name as a wholly owned subsidiary of The Andersons, Inc.
About The Andersons, Inc.
The Andersons, Inc., celebrating 75 years of service and named to Forbes® lists of America's Best Employers for 2022 and Best Employers for Diversity 2022 as well as America's Most Trusted Companies 2022 by Newsweek®, is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and plant nutrient sectors. Guided by its Statement of Principles, The Andersons is committed to providing extraordinary service to its customers, helping its employees improve, supporting its communities, and increasing the value of the company. For more information, please visit www.andersonsinc.com.
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SOURCE The Andersons, Inc.
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