The Andersons

What The Andersons does

The Andersons, Inc. is a publicly traded (NASDAQ: ANDE) Fortune 500 agribusiness and renewable fuels company headquartered in Maumee, Ohio, founded in 1947 and listed since February 1996. The company operates through two principal segments: Agribusiness (grain merchandising, fertilizer distribution, premium and specialty ingredients, industrial products, and turf) and Renewables (four wholly-owned U.S. ethanol plants producing approximately 500 million gallons annually). It is ranked as a top-five U.S. grain merchandiser and the fifth-largest U.S. ethanol producer, with deep grower relationships, complex storage and logistics infrastructure, and a network of over 50 grain and agronomy locations across Kansas, Oklahoma, Colorado, and Texas following the 2024 Skyland Grain majority acquisition. International operations span the UK (Feed Factors, Ltd., a Queen's Award-winning feed ingredients business), Switzerland, Romania, and Canada.

The business model is built on vertically integrated commodity merchandising, ethanol production and marketing, and specialty ingredients distribution. Revenue is generated primarily through transaction-fee grain trading, fertilizer and crop input distribution, ethanol and distillers grains sales, and direct capture of federal Section 45Z Clean Fuel Tax Credits projected at $90-100 million annually through 2029. The go-to-market combines enterprise field sales targeting growers, grain merchants, and fuel distributors with a co-op-anchored retail farm center network serving 7,000+ active members. The Port of Houston export terminal, targeted for full Q3 2026 operations, is intended to extend geographic reach into international grain and soybean meal markets.

Leadership under President and CEO Bill Krueger (appointed 2024, succeeded by EVP, Renewables Mark Simmons who assumed that role January 1, 2025) is executing a stated 36% EPS CAGR growth target to $7.00 by 2028, backed by the $425 million July 2025 full acquisition of The Andersons Marathon Holdings (TAMH), the $60 million Clymers ethanol debottlenecking, and disciplined capital allocation. The company has paid 119 consecutive quarterly dividends since its 1996 listing and maintains a diversified product and geography mix across food, feed, and fuel markets.

Name

The Andersons

Legal name

The Andersons, Inc.

Website

https://andersonsinc.com

Company type

Public

Founded year

1947

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

The Andersons is a publicly traded agribusiness and renewable fuels company that produces food, feed, and fuel for North America. It operates grain merchandising, four wholly-owned ethanol plants, premium ingredients, and a network of 50+ farm centers serving 7,000+ co-op members.

Ownership category

akta.pro rank

Product category

Agribusiness and Renewable Fuels

NAICS

Grain and Oilseed Milling (3112)

SIC

Wholesale-Farm Product Raw Materials (5150)

akta.pro primary industry

Fertilizer & Nutrient Retail (Dry, Liquid, Blends) (AFABAJAF)

akta.pro secondary industry

Agronomy Advisory & Field Services (Retailer-Affiliated) (AFABAJAH)

Keywords

• Grain merchandising
• Ethanol production
• Agricultural commodities
• Renewable fuels
• Fertilizer distribution

Headquarters

HQ city

Maumee

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Agribusiness / Grain Merchandising: Grain and commodity merchandising operations including corn, wheat, feed ingredients, and other grains/oilseeds. Revenue from grain trading, storage, and logistics services. Historical revenue of $11+ billion annually.
2. Renewable Fuels / Ethanol: Ethanol production and marketing through four wholly-owned ethanol plants. Revenue from ethanol sales and co-products (distillers grains). 45Z tax credits provide $90-100 million annual cash flow through 2029. Full ownership acquired July 2025 for $425 million.
3. 45Z Clean Fuel Tax Credits: Federal tax credits under Section 45Z of the Internal Revenue Code for clean fuel production. Q1 2026 recognized $26 million in credits. Projected $90-100 million annual cash flow through 2029.
4. Fertilizer Products: Fertilizer blending and distribution through wholesale and retail farm center channels. Operations include liquid fertilizer facilities and distribution through acquired Skyland Grain network.
5. Premium Ingredients: Pet food ingredients, specialty ingredients, and feed products through acquisitions including Capstone Commodities, Bridge AgriPartners, and ACJ International. Feed Factors, Ltd. based in UK.
6. Industrial and Specialty Products / Turf: Professional turf products and industrial specialty products. Lawn products business and professional turf product lines.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

The Andersons is a diversified North American agribusiness and renewable fuels company that merchandises, stores, and trades grains; blends and distributes fertilizer; produces ethanol through four wholly-owned plants; and sells premium ingredients (pet food/feed), industrial/specialty products, and professional turf products. Through deep grower relationships, complex storage and logistics systems, and a vertically integrated supply chain, the company provides food, feed, and fuel across North America and select international markets.

Product overview

The Andersons operates as a diversified North American agriculture and renewable fuels company with two primary business segments: Agribusiness and Renewables. The Agribusiness segment encompasses the Ag Supply Chain (including grain storage, fertilizer, and farmer services), Premium Ingredients (pet food ingredients and specialty ingredients), Industrial and Specialty Products, and Turf products. The Renewables segment includes ethanol production and renewable fuels operations through four wholly-owned ethanol plants acquired in 2025. The company has grown through acquisitions including Lansing Trade Group, Skyland Grain, and The Andersons Marathon Holdings, and operates internationally through subsidiaries like Feed Factors, Ltd. in the U.K. The company was founded in 1947 and went public on Nasdaq in 1996.

Differentiator

Problem solved

Functional benefit

Products and services

• Ag Supply Chain Grain merchandising, storage and logistics, fertilizer blending and distribution, and farmer services providing food, feed, and fuel to North America and beyond through deep grower relationships and a complex storage and logistics network. For agricultural producers, cooperative members, and downstream commodity buyers.
• Renewables (Ethanol Production and Marketing) Ethanol production and marketing through four wholly-owned U.S. ethanol plants (approximately 500 million gallons annual capacity), with associated distillers grains co-products and direct capture of Section 45Z Clean Fuel Tax Credits projected at $90–100 million annually through 2029. For fuel distributors, biofuel blenders, and feed customers.
• Industrial and Specialty Products Industrial and specialty products segment offering various products to industrial customers (e.g., professional lawn care and industrial specialty product lines). For industrial buyers.
• Premium Ingredients Premium pet food ingredients, specialty ingredients, and feed products including dairy feed inputs merchandised primarily into dairies in the southwest U.S., distributed internationally through Lansing Trade Group, Bridge AgriPartners, ACJ International, and Feed Factors Ltd. For pet food manufacturers and food/feed producers.
• Turf Products Professional turf products and lawn products for golf course management and commercial turf maintenance. For golf course superintendents, lawn care operators, and professional turf managers.
• Skyland Grain Farm-Center Network Grain and agronomy business providing access to Kansas, Oklahoma, Colorado, and Texas markets with over 7,000 active co-op members and more than 50 grain and agronomy locations under the Skyland brand. For farmers and agricultural cooperative members in those states.

Quantifiable outcome

• Q1 2026 adjusted EBITDA of $91 million with record Renewables segment performance
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• The Andersons Marathon Holdings LLC (TAMH)coreStrategic or Co-development Partner · 31 July 2025The Andersons acquired full ownership of The Andersons Marathon Holdings LLC (TAMH) for $425 million, completing the transaction in July 2025. TAMH operated four ethanol plants in the United States. This acquisition provides full control of approximately 500 million gallons of ethanol production capacity and direct access to 45Z Clean Fuel Tax Credits.
• Marathon Petroleum CorporationcoreStrategic or Co-development Partner · 31 July 2025TAMH was a joint venture between The Andersons and Marathon Petroleum Corporation. The $425 million acquisition in July 2025 gave The Andersons 100% ownership of the ethanol operation. Marathon Petroleum executive David R. Heppner subsequently appointed to The Andersons board in June 2026, bringing nearly 40 years of Marathon experience.
• Skyland Grain, LLCcoreStrategic or Co-development Partner · 4 November 2024The Andersons acquired majority ownership in Skyland Grain, LLC, enabling expansion of grain and fertilizer businesses across Kansas, Oklahoma, Colorado, and Texas. The transaction doubled the size of The Andersons' retail farm center business through combined buying power and gives Skyland access to The Andersons' merchandising expertise and asset portfolio. Skyland brings over 7,000 active co-op members and more than 50 grain and agronomy locations.
• Lansing Trade Group, LLCcoreStrategic or Co-development Partner · 1 January 2019The Andersons acquired Lansing Trade Group, LLC, an independently owned ag-merchandising company that trades wheat, corn, feed ingredients, and other grains/oilseeds. Bill Krueger joined The Andersons as part of this acquisition, having previously served as President and CEO of Lansing Trade Group for 14 years.
• Thompsons LimitedminorStrategic or Co-development Partner · 1 January 2019The Andersons acquired Thompsons Limited, formerly jointly owned, as part of the Lansing Trade Group transaction.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Archer-Daniels-Midland (ADM): One of the world's largest agribusiness majors with parallel grain origination, oilseed processing, and corn-ethanol production. Directly comparable to Andersons across Agribusiness and Renewables segments, though at materially larger scale and broader global footprint.
• Bunge Global SA: Global agribusiness and food company with leading grain origination, oilseed processing (including soybean meal for export), and grain merchandising—directly parallel to Andersons' core grain operations and a comparable international trader profile.
• Louis Dreyfus Company: Privately held global merchandiser of grains, oilseeds, and agricultural commodities with significant North American grain operations. Highly comparable to Andersons' grain merchandising business; Andersons' board includes former Louis Dreyfus grain head.
• CHS Inc. Largest U.S. agricultural cooperative, operating grain handling, agronomy, energy (including ethanol), and farm supply retail—directly overlapping Andersons' Skyland co-op network, grain merchandising, and farm center business.
• Green Plains Inc. U.S. ethanol producer with comparable renewable fuels platform and increasing focus on low-carbon intensity ethanol for 45Z credits. Closest publicly traded pure-play comparable for Andersons' Renewables segment economics and policy exposure.
• AG Processing Inc. (AGP): U.S. farmer-owned cooperative with soybean processing, ethanol production (via partnerships), and grain merchandising. Comparable in cooperative structure, grain handling, and renewable fuels exposure to Andersons.

Broad incumbents

• Cargill, Incorporated: Largest private U.S. agribusiness with grain trading, oilseed processing, animal nutrition, and food ingredients. Overlaps Andersons across grain merchandising and ingredients; broader portfolio and deeper capital base make it a broad incumbent rather than a direct niche competitor.

Emerging players

• Ingredion Incorporated: Corn- and grain-based ingredient producer serving food, beverage, and animal nutrition end markets—directly comparable to Andersons' Premium Ingredients segment, particularly pet food and specialty feed applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/andersonsinc
• LinkedInlinkedin.com/company/the-andersons-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A14 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Andersons