The Scoular Company and Johnson Grain, LLC Announce Agreement in Principle to Form New Venture
January 8, 2010
Venture Will Own and Operate Grain Handling Assets in Central Illinois
OMAHA, NE – The Scoular Company of Omaha, Nebraska, and Johnson Grain, LLC of Waverly, Illinois, jointly announce that the two companies have reached an agreement in principle to form a new venture that will own and operate grain handling assets in Central Illinois.
The two companies will seek additional expansion opportunities after the initial transaction has been closed. Although terms of the transaction have not been finalized, it is expected to be completed in February.
According to Scoular Senior Vice President Todd McQueen, Scoular and Johnson Grain have enjoyed a close trading relationship for many years and are pleased to take this important step to unite regional operations. Jay Johnson, President of Johnson Grain, will serve as General Manager of the business.
Johnson reports that his company had been looking to bring expanded service, more markets, and better grain value to its local producers and local economy. He believes that this new venture accomplishes these goals.