The Andersons, Inc. has entered into a definitive agreement to acquire all outstanding limited partner interests in Harvestone Low Carbon Partners (HLCP) for $915 million. The transaction adds three ethanol production facilities with approximately 215 million gallons of annual capacity, bringing the company's combined platform to roughly 730 million gallons. Approximately half of the purchase price is attributed to expected 45Z and 45Q tax credit cash flows. The acquisition will be financed through a combination of long-term debt issuance and borrowings under its existing revolving credit facility. The transaction is expected to close in the fourth quarter of 2026 or early first quarter of 2027, subject to regulatory approvals and customary closing conditions. The Andersons operates in the agribusiness and renewables sectors.
