GROWMARK acquires Fort Dodge refined fuels terminal
BLOOMINGTON, ILL. – GROWMARK Inc. and Magellan Pipeline Co. L.P. have entered into an agreement in which GROWMARK will acquire the refined fuels terminal near Fort Dodge. Terms of the acquisition were not disclosed in an announced on Oct. 15.
Acquisition of the facility will enable GROWMARK to ensure a continued supply of refined fuels and solidify the cooperative’s commitment to the energy business and to north central Iowa, according to Kevin Carroll, GROWMARK vice president, energy division.
“This acquisition provides the opportunity to invest in one of our core businesses and is a strategic location for our Iowa member cooperatives,” Carroll said.
“With the Fort Dodge addition, we can better serve our petroleum business and this important part of our geography.”
In addition to traditional refined fuels of gasoline and diesel, GROWMARK will supply its Dieselex Gold and diesel fuel blended for cold temperature operation using GROWMARK’s proprietary SURE-FLO additive.
Carroll said the Fort Dodge terminal will expand GROWMARK’s supply capacity and facilitate continued growth.
“We currently have a reliable supply of refined fuels. However, with the addition of the Fort Dodge terminal we will be able to more easily grow with our customers in the region,” he said.
Magellan will continue to deliver refined fuels into the Fort Dodge terminal via its Midwest pipeline system.
GROWMARK is a regional cooperative providing agriculture-related products and services, as well as grain marketing in the Midwest and Ontario, Canada.
Crop inputsand energy-related services are also marketed to farmers in the northeastern United States and by GROWMARK subsidiaries.
GROWMARK owns the FS trademark, which is used by affiliated member cooperatives.
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