The Andersons, Inc. (ANDE)

The Andersons say hard to find right acquisition to grow US ethanol output

U.S.-based grain trader and processor The Andersons said on Wednesday it has been difficult to find the right asset for a potential acquisition as part of its plan to grow ethanol production. Chief Operating Officer Bill Krueger said in a discussion panel at the BMO Global Farm to Market Conference that The Andersons has been looking for potential acquisition targets for a while but has yet to find the right asset that will allow it to produce ethanol with a lower carbon intensity score. "We have been vocal that we want to grow our ethanol production, either through acquisitions or new plants," Krueger said, adding that a potential asset to be bought needs to be large, efficient and be located in an area whose geology will allow for a carbon capture project.