Andersons to buy Harvestone Low Carbon Partners for $915 million
On November 3, 2026, subsidiary The Andersons Renewables, LLC agreed to acquire Harvestone Low Carbon Partners from Energy Capital Partners for $915 million. The three ethanol plants in North Dakota and Indiana have about 215 million gallons of annual capacity, and the company plans to fund the deal with about $300 million from its revolving credit facility and $615 million of new long-term debt. Closing is expected in the fourth quarter of 2026 or early in the first quarter of 2027, subject to regulatory approvals; the company says the deal is expected to be immediately accretive to earnings per share, but the filing gives no figures for this.
Key points
- Purchase price of $915 million, with about half attributed to expected 45Z and 45Q tax credit cash flows
- Three ethanol plants with about 215 million gallons of annual production capacity, combined platform about 730 million gallons
- Financing of about $300 million from the revolving credit facility and $615 million in new long-term debt, with committed financing from U.S. Bank and Farm Credit Mid-America
- Expected closing in the fourth quarter of 2026 or early in the first quarter of 2027
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.