The Andersons Agrees To Acquire Harvestone Low Carbon Partners From Energy Capital Partners For $915M; Transaction Expected To Be Immediately Accretive To EPS And Cash Flows

Expands The Andersons' Renewables platform by more than 40%, adding approximately 215 million gallons of annual ethanol production

Adds a differentiated low-carbon ethanol platform strategically positioned to serve premium markets and complement The Andersons' existing network

Transaction expected to be immediately accretive to earnings per share and cash flows

MAUMEE, Ohio, Nov. 4, 2026 /CNW/ -- The Andersons, Inc. (NASDAQ:ANDE) today announced that it has entered into a definitive agreement to acquire Harvestone Low Carbon Partners (HLCP), an industry leader in low-carbon ethanol that owns and operates three ethanol production facilities in North Dakota and Indiana from Energy Capital Partners (ECP), for $915 million. Approximately half of the purchase price is attributed to expected 45Z and 45Q tax credit cash flows, with the remainder to the underlying base ethanol operations and additional low-carbon opportunities. Upon closing, The Andersons' (the Company) combined ethanol production platform will have approximately 730 million gallons of annual capacity. The purchase price includes a normalized level of working capital. The transaction is subject to customary adjustments and closing conditions.