Cargill closes deal on feed mill sale to Risser Grain
2013-09-04 10:20:09
Cargill has closed the deal on the sale of its Martinsburg, Pa.-based feed mill and grain elevator to Holtwood, Pa.-based Risser Grain.
Under the terms of the agreement, Risser Grain is buying the property and assets such as machinery and equipment.
Cargill acquired the Martinsburg facility in January 2013 upon securing the winning bid to acquire the feed mill assets of Pennfield Corporation in a bankruptcy proceeding.
Concurrent with the sale, Risser is entering into an agreement with New Enterprise, Pa.-based Key State Ag Service. Under this agreement, Key State will shift its retail agriculture business operations from New Enterprise to the Martinsburg facility, and will manufacture feed products for Cargill from the new location. Risser will operate the grain elevator portion of the facility. All full-time employees affected were offered positions with Key State Ag Service.