CHICAGO, – U.S. agricultural processor Archer Daniels Midland (ADM.N) acquired five grain elevators in Wisconsin and contracted to acquire four more in the state, the company said in a release on Wednesday.
ADM also assumed the lease for another Wisconsin elevator, expanding its grain storage capacity with the series of deals by about 20 million bushels, the Decatur, Illinois-based agribusiness said.
ADM bought the five elevators from Olsen Brothers Enterprises, and in a separate deal entered into an agreement to buy four others from Olsen’s Mill Acquisition Company/Ag Services of Wisconsin, it said.
Of the 10 elevators, those in Auroraville, Belmont, Viroqua, Westfield and Platteville have the ability to load grain trucks, ADM said.
Others in Boscobel, Oshkosh, Ripon and Stevens Point can load trucks and rail cars, while the elevator in Milwaukee can load trucks, railcars and shuttle barges on Lake Michigan, it said.
ADM said grain from the facilities will supply its domestic processing plants, local dairy operations and export markets