St. Paul, Minnesota, April 1, 2008 - CHS Inc., a leading energy and grain-based foods company, has acquired Legacy Foods LLC, Hutchinson, Kan. CHS will operate the business as part of its oilseed processing group, managed by Dennis Wendland, senior vice president of oilseed processing. The Kansas-based company is one of the nation's premier producers of Ultra Soy(R) (textured soybean-based food products) and TSP(R) (a textured soy protein) used around the world by manufacturers of human- and pet-food products.
"We've purchased soy flour from CHS for many years, and we've always been impressed with their intense customer focus and integrity," says Michael Considine, president and chief executive officer of Legacy Foods. "As a financially strong, growing company, CHS has the vision and expertise necessary to take this business to the next level, while being good stewards of our products and employees. This is an absolutely perfect fit."
"Legacy Foods has a history of quality food product manufacturing, and a committed, experienced employee base," says Wendland. "We're looking forward to continuing to serve Legacy Foods customers as CHS and to further growing the market for soy protein based products to add value for our stakeholders."
Financial terms were not disclosed. Legacy Foods LLC, formerly known as PMS Foods LP, has been owned by an investment group lead by Simpson Capital LLC since February, 2002. Considine and his management team will continue daily management oversight from the Hutchinson office, reporting to Wendland. The company employs approximately 80 people, all of whom will become CHS employees.
CHS Inc. is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 200 company, CHS is owned by farmers, ranchers and cooperatives, along with thousands of preferred stockholders, from the Great Lakes to the Pacific Northwest and from the Canadian border to Texas. CHS supplies energy, crop nutrients, grain, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex(R) brand refined fuels, lubricants, propane and renewable energy products. CHS is listed on the NASDAQ at CHSCP.