Growmark to Acquire Meier Oil Products, Manito Transit
Deal strengthens collaboration with local FS member cooperatives
BLOOMINGTON, Ill. -- Growmark Inc. has reached an agreement to acquire Meier Oil Products Inc. and Manito Transit. Meier Oil Products and Manito Transit have been a family owned business since 1936 and their business has consisted of a trucking company, a fuel terminal facility in Ashkum and bulk fuel facilities at Kankakee, Pontiac, Sheldon and Champaign, all in Illinois.
Kevin Carroll, Growmark vice president of energy, said the acquisition strengthens the Growmark System through collaboration between local FS member cooperatives and Growmark Energy.
"This will allow our local companies to work more efficiently as part of the broader Growmark System, to serve this expanded market. We have a strong heritage of being a reliable supplier of refined and renewable fuels and lubricants. Adding the Meier Oil business enhances our heritage and provides customers ongoing access to quality products," he said.
Mike Meier, president of Meier Oil Products, noted the transaction reinforces his family's commitment to the community and to superior customer service.
"Growmark, Illini FS, Evergreen FS and Heritage FS are cooperatives and respected members of the industry and communities we serve. As such, they share our commitment to our employees and to providing quality products at competitive prices. We are honored our customers will have access to a reliable supply of products and can count on ongoing quality customer service," he said.
Meier Oil Products and Manito Transit were advised in the transaction by Terry Monroe of American Business Brokers, Effingham, Ill. and Bill Fecht of WJF Services Inc., Normal, Ill.
Bloomington, Ill.-based Growmark is a regional cooperative with annual sales of $10.1 billion providing agriculture-related products and services and grain marketing in the Midwest and Ontario, Canada. FS brand farm supplies and related services are also marketed to farmers in the northeastern United States and by Growmark subsidiaries.