Andersons Expands Retail Farm Center Network Via Mote Farm Service Acquisition

Plant nutrient producer Andersons Inc ANDE has signed an agreement to purchase the assets of Mote Farm Service Inc. The financial details of the transaction were not disclosed.
The transaction is expected to close in late October. The purchase will include Mote's Union City, Indiana, and Harrisville, Indiana, locations.
"The purchase supports our strategy to be the Midwest's premier provider of plant nutrients and agronomy services," said Joe McNeely, President of The Andersons Nutrient and Industrial.
Andersons held $86 million in cash and equivalents as of June 30, 2022.
Price Action: ANDE shares closed higher by 2.20% at $32.55 on Monday.