Growmark has acquired two Waterloo Service Co. facilities in Waterloo, Iowa, including one for expanded bulk lubricant storage and distribution operations. Terms of the acquisition were not disclosed.
The facilities are known as the Airline Highway and Logan property facilities. The Airline Highway facility will be used for truck fabrication, testing and upgrades. The Logan property includes a storage facility for bulk lubricants, a refined fuels bulk plant and propane operation.
The Logan property will be used for lubricant distribution for eastern Iowa coverage, Growmark Energy Division Manager Shelly Kruse told Lube Report. Daily distribution routes will be established from the Logan facility in conjunction with our current route distribution from Council Bluffs, Iowa.
Growmarks energy division revamped its lubricants business in 2006 by acquiring McCollister and Co., a lubricant blending facility in Council Bluffs, Iowa, along with the Archer and United lubricant brands. FS is Growmarks other lubricant brand, and is also the cooperatives farm supplies brand name.
Growmark will continue to expand its distribution of quality lubricant products throughout Iowa and the Midwest, Kruse said. Growmarks roots are in agriculture, and Iowa is a key agricultural state. The Waterloo Service Co. acquisition was completed July 1.
Bloomington, Ill.-based Growmark is a regional cooperative providing agriculture-related products, services and grain marketing in the Midwest and in Ontario, Canada. It has regional offices in Ontario, and in Johnston, Iowa. Growmark reported annual sales of $4.4 billion during fiscal year 2007.