Tipton-based Total Seed Production has announced the completion of its acquisition of a soybean facility in the Tipton County town of Windfall from Bayer.
The company did not disclose financial terms of the deal or details on any potential impact on jobs the acquisition would have.
In a news release from Champaign, Illinois-based consulting firm Verdant Partners, which helped broker the deal, the facility at 908 North Independence Street in Windfall will allow Total Seed Production to increase production capacity, improve operational efficiency and better support its customers.
Total Seed Production is a seed corn and soybean seed producer that also provides warehousing and distribution services for customers.
Hoosier Ag Today’s news partner, Inside INdiana Business, left multiple messages with company officials seeking more information on the acquisition, which were not returned at deadline Wednesday.
Plans for the acquisition were first announced in October. At that time, President Aaron Conaway said the expansion would offer “endless flexibilities and opportunities” for all of the brands the company serves.
“This acquisition comes at a perfect time for the continued growth in our soybean business; at the same time, it opens up additional capacity for our seed corn and distribution businesses as well,” Conaway said in an October news release. “The added facility will enable a fourfold increase in TSP’s soybean conditioning capacity, and it opens up existing capacity at the Tipton location for seed corn services.”
The Windfall facility is located about 15 miles from Total Seed Production’s headquarters in Tipton and about 50 miles north of downtown Indianapolis.
Total Seed Production plans to hold a grand opening ceremony for the new facility in early April.
Source: Inside INdiana Business
