Agricultural News
W.B. Johnston Grain to be Acquired by CGB Enterprises, Inc.
Mon, 03 Feb 2014 14:55:45 CST
Oklahoma's oldest and largest privately-owned grain company, W.B. Johnston Grain, has entered into a letter of intent to sell its grain company and related businesses to CGB Enterprises, Inc. The parties expect to close the transaction within 30 to 45 days.
WBJ's CEO Butch Meibergen said, "We are looking forward to being a part of the CGB team. WBJ prides itself in providing producers with services they need, and we look forward to offering even more resources in the future through CGB's global network."
CGB's President and CEO Kevin Adams said, "We are excited about the WBJ group of businesses and employees joining the CGB team. The Meibergen family has successfully grown and nurtured the WBJ business over its long history and we believe they complement our growing CGB group of businesses. Our staff plans to work closely with WBJ's customers, suppliers, and employees to make the integration process as seamless as possible."
WBJ operates 19 country grain elevators throughout Oklahoma and Texas including two grain terminals, and 18-million-bushel rail terminal in Enid and a two-million-bushel rail shipper/receiver facility in Shattuck, Okla. Operations include grain, retail, fertilizer, seed, and bulk transfer of frac sand and petroleium.
CGB has 74 grain elevators across the Midwest. The company's businesses include grain handling and merchandising, soybean processing, crop insurance, fertilizer, agri-finance, feed ingredients, bulk handling and stevedoring, transportation and global logistics services.
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