The Scoular Company Enters Into Letter of Intent with Ada Grain to Acquire Two Kansas Grain Elevators
August 25, 2010
OMAHA, NE- The Scoular Company announced today that it has entered into a Letter of Intent to acquire Ada Grain’s facilities in Ada and Minneapolis, Kansas. A September close is anticipated, and terms of the pending transaction were not announced.
According to Curt Engel, Scoular Vice President, Scoular plans to use the facilities to receive locally produced grain and strengthen grain origination for its terminal elevators in Salina and Downs, Kansas. “Scoular has been serving Kansas farmers for more than 35 years, and we’re looking forward to building upon the dependable service that Ada Grain owners Ray and Margaret McGavran have provided area growers during that same period of time,” said Engel.
The McGavrans extended a sincere thank you to their customers and said, “We greatly appreciate everyone’s past support of our business. We are pleased to have Scoular continue what we began 38 years ago as we believe they are well-suited to provide the best possible service to our customers in the Ada and Minneapolis areas.” Ray and Margaret said that they will continue to reside in Minneapolis and that they are looking forward to spending more time with their family and friends.
In addition to the anticipated operation of the two Ada Grain facilities, Scoular operates grain elevators in Salina, Downs, Goodland, Wellington, and Coolidge, Kansas. As a whole, the company has more than 60 locations across North America and over 600 employees who tailor risk-management solutions for their customers by buying, selling, storing, and transporting grain and ingredients for use in feed, food, and renewable fuel markets worldwide.
The McGavrans began their careers in the grain elevator business in 1972 while working at Ada Grain Company in Ada, Kansas. In 1980, they purchased the business from Ray’s parents, Carl and Rovena McGavran, and later expanded it by purchasing the Minneapolis Agri Center from Max and Betty Guipre in 1992 and the Collingwood facility in 1996.