Bloomington, Ill. based GrowMark and Magellan Pipeline Company, have entered into an agreement in which GrowMark will acquire the refined fuels terminal near Ft. Dodge, Iowa. Terms of the acquisition were not disclosed.
Acquisition of the facility will allow GrowMark to ensure continued supply of refined fuels and solidify the cooperative’s commitment to the energy business as well as to North Central Iowa, according to Kevin Carroll, GrowMark’s vice president of the 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 says. “With the Ft. 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, the company will supply its proprietary Dieselex Gold and diesel fuel blended for cold temperature operation using its proprietary Sure-Flo additive.
Carroll says the Ft. 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 Ft. Dodge terminal we will be able to more easily grow with our customers in the region,” he notes.
Magellan will continue to deliver refined fuels into the Ft. Dodge terminal via its Midwest pipeline system.
For more information on GrowMark is available here. www.growmark.com