Agribusiness giant Archer Daniels Midland is acquiring Prairie Pride’s soybean crushing and biodiesel facility in Deerfield, Mo., a biodiesel plant idled since early 2010. This ADM press release says the company will form a partnership with Prairie Pride on the biodiesel side of the house.
“The acquisition of Prairie Pride’s soybean facility and partnership for the biodiesel business were attractive to us because they are aligned with our growth strategy and fit well within our integrated business model,” said Matthew J. Jansen, president, Global Oilseeds. “We look forward to working with the 1,000 farmers of Prairie Pride to transform soybeans into food, feed and fuel products used by consumers and businesses around the world every day. And we look forward to becoming a part of the Vernon County community.”
Prairie Pride officials say that a long-term relationship with ADM will give their members “the greatest potential to receive returns on their investment without the necessity of infusing more capital into Prairie Pride.”