Ocean Park Advises Pipeline Foods on Sale of Iowa Grain Storage Facility
November 9, 2021 – Pipeline Foods, LLC (“Pipeline Foods”) recently closed the sale of its grain storage facility in Atlantic, Iowa to Landus, Iowa’s largest farmer-owned grain cooperative. Landus came forward with the successful bid in an auction conducted under the US Bankruptcy Code. Ocean Park acted as exclusive financial advisor to Pipeline Foods.
The Pipeline Foods grain storage facility sits on an 8.5-acre site and has the capability to handle organic and conventional corn and soybeans. The facility features 900,000 bushels of organic storage and 2.4 million bushels of conventional storage capacity. Its strategic location on a short line railroad connects the facility to five Class I railroads, allowing it to ship product via rail from Iowa to all destinations in the U.S.
“Ocean Park was instrumental in achieving a successful outcome for all of our stakeholders,” said Anthony Sepich, chief executive officer of Pipeline Foods. “The team’s depth of relationships and industry knowledge in the agricultural commodities supply chain added tremendous value to this important transaction.”
“We are pleased that are our competitive sales process helped to create strong demand from a diverse group of bidders at the auction,” said Bruce Comer, an Ocean Park managing director. “The transaction marries our breadth of skills in special situation assignments and mergers and acquisitions.”
Pipeline Foods is the first U.S.-based supply chain solutions company focused exclusively on non-GMO, organic, and regenerative food and feed. Its dedicated team brings transparent, sustainable supply chain solutions to connect the dots for its farming partners and end users of organic grains and ingredients. Learn more about Pipeline at www.pipelinefoods.com.
Landus is a farmer-owned agricultural cooperative headquartered in Ames, Iowa. It employs about 600 full-time employees at locations in more than 60 communities to serve its 7,000 farmer-owners. Landus is Iowa’s largest agricultural cooperative providing unmatched scale, expertise, facilities, and logistics. Its products and services span the five pillars of agronomy, grain, feed, animal nutrition, and data. For more information, visit LandusCooperative.com.
Ocean Park is a leading boutique investment bank focused on the renewable fuels, energy, food, AgTech and agribusiness sectors. The Ocean Park team has significant operational and transaction experience, including advising on mergers and acquisitions, financings and restructurings. Since its founding in 2004, Ocean Park has successfully completed over 80 transactions and client engagements. Its professionals are based in Los Angeles, Houston, Minneapolis and Omaha. For more information, please visit oceanpk.com.