DECATUR, Ill. (AP) — Agriculture conglomerate Archer Daniels Midland Co. has signed deals to purchase or lease 10 grain storage elevators in Wisconsin.
The company said Wednesday afternoon that it bought five grain storage elevators from Olsen Brothers Enterprises. Separately, it has contracted to buy four more from Olsen's Mill Acquisition Company/Ag Services.
The company said it also assumed a lease for an elevator from Olsen's Mill Acquisition Company.
Archer Daniels Midland declined to release financial specifics of the deals Wednesday.
Together, the10 grain elevators have a combined storage capacity of approximately 20 million bushels.
"The acquisition of these elevators expands our grain origination footprint into Wisconsin, a new origination area for ADM," Joe Taets, Archer Daniels Midland president of Agricultural Services business said in a statement.
The company's shares fell 25 cents to close at $28.48.
There are no comments yet