CEO of the Effingham Equity Bruce Vernon and CEO of Coshocton Grain Company Rhoda Sue Crown jointly announced on Thursday that the two companies have entered into an agreement where the Equity will take over CGC’s grain operations in Illinois. The purchase includes a grain shuttle train loading site in Horace, IL and grain truck houses in Redmon and Vermilion, IL.
“It was important to CGC’s management and shareholders to align with an entity that shares our commitment to the farmers in the area and one that has a demonstrated practice of high customer service. We have been very blessed with our relationships in Edgar County, IL – both producers and shareholders as well.” Crown Said.
CGC has its headquarters in Coshcocton, OH and bought its Illinois facilities in 2013. The company will maintain ownership over its remaining Ohio facilities.
“The Equity views this acquisition as a key step in our continued pursuit of further diversifying our organization. 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.” Said Vernon.
According to a press release, the transaction will likely occur by the end of next month.