The Andersons agrees to buy Harvestone Low Carbon Partners for $915 million
ANDE•The Andersons agreed to acquire Harvestone Low Carbon Partners for $915 million. The three ethanol plants add about 215 million gallons of annual capacity, and the deal is expected to close in late 2026 or early 2027.
1. Deal terms
The Andersons agreed to acquire Harvestone Low Carbon Partners from Energy Capital Partners for $915 million. The three plants add approximately 215 million gallons of annual capacity, expanding the combined platform to about 730 million gallons. Approximately half the purchase price reflects expected 45Z and 45Q tax credit cash flows tied to low-carbon ethanol production. The Andersons plans to fund the deal with about $300 million in borrowings under its existing revolving credit facility and $615 million in additional long-term debt; closing is expected in the fourth quarter of 2026 or early first quarter of 2027, with immediate earnings-per-share and cash-flow accretion anticipated.
