Aventine completes acquisition
Ethanol producer Aventine Renewable Energy has recently completed the acquisition of an ethanol plant in Illinois, US.
Aventine purchased the Canton-based facility and all of Riverland’s remaining assets for $16.5 million (€12.8 million).
Commenting on the deal, which closed on 6 August 2010, the CEO of Aventine Torn Manuel said: ‘This is an exciting opportunity to acquire a 38 million gallon facility at a favourable price. When operational we will leverage the proximity of the Canton facility to our Pekin, Illinois, facilities to gain marketing and operational synergies.’
Aventine purchased the Canton-based facility and all of Riverland’s remaining assets for $16.5 million (€12.8 million).
Commenting on the deal, which closed on 6 August 2010, the CEO of Aventine Torn Manuel said: ‘This is an exciting opportunity to acquire a 38 million gallon facility at a favourable price. When operational we will leverage the proximity of the Canton facility to our Pekin, Illinois, facilities to gain marketing and operational synergies.’
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