Illinois-based Coshocton Grain Company (CGC) announced that it has entered into an agreement to sell its grain assets in the state of Illinois including a grain shuttle loading location and grain truck houses to Effingham Equity (The Equity). CGC will retain its ownership of its remaining grain assets located in Ohio.
Robin Brown, employee relations and marketing manager for Effingham Equity, said all acquired sites will continue as elevators accepting corn and soybeans from area farmers, reports the Prairie Press, adding that all current staff will remain in their positions.
Founded in 1919, Effingham Equity is one of Illinois’ largest ag co-operatives, serving 10,000 square miles from its 19 locations offering services focused on agronomy, grain, feed, and livestock, energy, and hardware and supplies.
“The Equity views this acquisition as a key step in our continued pursuit of further diversifying our organization,” said Bruce Vernon, CEO of Effingham Equity. “Obviously, the CGC Horace shuttle train loader vastly enhances our grain marketing offerings but we also are excited about the future opportunities for our Feed, Agronomy and Energy business units in this marketplace as well.”
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