The Andersons
| Company type | Public |
|---|---|
| Industry | Agribusiness, Commodity trading, Renewable energy, Plant nutrient products |
| Predecessor | Andersons Truck Terminal (ATT) |
| Founded | 1947 |
| Founder | Harold Anderson, Margaret Anderson |
| Headquarters | Maumee , United States |
Area served | United States |
Key people | Richard "Dick" Anderson (former CEO) |
| Products | Grain merchandising, railcar leasing, ethanol production, plant nutrient services |
Number of employees | 2,299 (2024) |
The Andersons, Inc. is a U.S.-based agribusiness enterprise established in 1947, initially known as Andersons Truck Terminal (ATT), serving the grain sector. Headquartered in Maumee, Ohio, the company operates as a diversified entity involved in commodity trading, renewable energy, and plant nutrient products.
For the fiscal year 2024, The Andersons generated revenues amounting to US$11.26 billion and recorded a net income of US$170.70 million, demonstrating robust financial results. The workforce consists of 2,299 employees, with operations predominantly focused within the United States.
Throughout its operational history, The Andersons has undertaken financial reporting revisions, including restatements in 2003 and 2005 related to accounting methods; these adjustments did not materially affect the company’s overall earnings.
In January 2017, The Andersons announced the shutdown of its retail outlets located in Maumee, Toledo, and Columbus to sharpen focus on its principal activities—grain merchandising, railcar leasing, ethanol production, and plant nutrient services—which are central to its strategic plan for enhancing market position and operational efficiency.
History
Founded in 1947 as The Andersons Truck Terminal (ATT) by Harold and Margaret Anderson, the company initially concentrated on grain transportation and storage through grain elevators and rail transfer facilities. Their son, Richard "Dick" Anderson, later assumed the role of CEO.
During the 1950s, the firm expanded its grain terminal operations, inaugurated its first retail outlet named The Andersons Warehouse Market, and ventured into fertilizer blending alongside corn milling. The 1960s witnessed the launch of the first deep-water grain loading terminal on the U.S. side of the Great Lakes, pioneering the loading of 100-car trains in Champaign, Illinois, and constructing the largest steel tank grain storage facility in Maumee, Ohio. Additionally, it entered the Lawn Products sector.
In the 1970s, The Andersons broadened its river elevator network, initiated shipments through Gulf ports, developed a grain elevator and corn mill in Delphi, Indiana, and replaced its original Maumee retail store with a larger facility. The 1980s saw further expansion with new liquid fertilizer plants along the Maumee River, retail stores opened in Toledo and Columbus, additional grain elevators established in Indiana and Michigan, and fertilizer manufacturing sites across several Indiana locations. This decade also marked the creation of The Andersons Management Corporation.
The 1990s brought diversification into railcar leasing and maintenance with new facilities in Maumee and an extended retail footprint including Lima, Ohio. The company acquired several grain and liquid storage assets throughout Indiana. On February 20, 1996, The Andersons completed its initial public offering on NASDAQ with sales nearing $1 billion.
Entering the 2000s, The Andersons commenced ethanol production by building three plants and expanded rail operations with repair shops established in South Carolina, Georgia, and Mississippi. The company achieved ISO certifications for its liquid plant nutrient facilities, grew its turf products division substantially, conducted a 2-for-1 stock split followed by a secondary offering, and launched a Specialty Food Market in Sylvania, Ohio (which closed in 2016).
On June 3, 2017, after incurring losses totaling $20 million over eight years, The Andersons terminated all retail operations. These stores had employed close to 1,050 individuals.
For fiscal year 2023, The Andersons reported revenues of $14.75 billion—a decline of 17.4%—and net earnings of $101.19 million—a decrease of 29.5%. As of March 2024, institutional investors and hedge funds collectively hold 87.06% ownership of the company's shares.