The Andersons and Marathon Petroleum merge four ethanol entities

In Ohio, The Andersons, Inc. announced that it and Marathon Petroleum Corporation have merged four ethanol entities with and into the new legal entity The Andersons Marathon Holdings LLC (TAMH). The ethanol facilities involved in the merger include those in Albion, Mich.; Clymers, Ind.; and Greenville, Ohio, which were all previously jointly owned by The Andersons and Marathon Petroleum; and The Andersons’ wholly-owned ethanol facility in Denison, Iowa. Effective October 1, 2019, The Andersons and Marathon Petroleum own 50.1% and 49.9% of TAMH equity, respectively. The transaction will result in the consolidation of TAMH’s results in The Andersons’ financial statements.

In conjunction with the merger agreement, TAMH has entered into several new long-term services agreements with The Andersons. Under those agreements, The Andersons will continue to operate the four plants, buy corn, market ethanol and other coproducts and manage risk for TAMH.