Done Deal: Glacial Lakes Energy closes on $47.5 million purchase of two ethanol plants (Audio)
December 23, 2019
WATERTOWN, S.D.—A deal that was first announced in August was finalized last week.
Glacial Lakes Energy has purchased Advanced BioEnergy ethanol plants in Aberdeen and Huron for $47.5 million.
Glacial Lakes CEO Jim Seurer says the initial plan was to get the deal closed by the end of September, but they didn’t get it wrapped up until late last week….
The Huron plant opened in 1998, and the Aberdeen plant ten years later….
He says there won’t be any big changes in the way the Aberdeen and Huron plants operate as part of this ownership change….
Glacial Lakes Energy now operates four ethanol plants—in Watertown, Mina, Huron and Aberdeen. Collectively, they produce close to 350 million gallons of fuel annually….
Seurer is not ruling out the possibility of acquiring more plants in the future.