December 20, 2012 [OPIS] - Regional cooperative Growmark will acquire a products' terminal in Ashkum, Illinois as well as a number of bulk fuel facilities in that state from Meier Oil Products.
The assets purchased include a 250,000 barrel terminal in Ashkum, as well as smaller bulk fuel facilities at Kankakee, Pontiac, Sheldon, and Champaign, Illinois. The sale of a trucking company, Manito Transit, is also part of the deal from family-owned Meier.
The deal should enable Growmark to strengthen its distribution system for refined products, renewable, and lubricants for Growmark, and its affiliated cooperatives.
“Adding the Meier Oil business enhances our heritage and provides customers ongoing access to quality products,” noted Kevin Caroll, the vice president of energy for Growmark.
Advisors for the deal included Terry Monroe of American business Brokers in Effingham, and bill Fecht of WJF Services, in Normal, Illinois.
Growmark boasts more than $10-billion in annual sales and provides agriculture-related products and services as well as grain marketing in the Midwest and Ontario, Canada. It markets FS brand farm supplies and services through subsidiaries in the northeast as well.
