(Superior)– Some local grain elevators are changing hands.
Green Plains Energy has announced it’s selling 12 elevators, including some in northwest Iowa, to an Ohio company.
Local elevators involved in the transaction include those in Everly, Greenville, Gruver, Langdon, Milford, Spencer and Superior. Officials say it will remain business as usual at those locations during the transition.
The acquisition price for the 12 locations was put at $133.1 million, which includes the assumption of $28.3 million in debt.
Green Plains officials say the sale will allow the company to take advantage of growth opportunities and that it will allow it to reduce outstanding debt.
