Farmer-owned group agrees to buy Minn. ethanol plant for $55M

01/24/2013 | Star Tribune (Minneapolis-St. Paul, Minn.)

Farmer-owned Guardian Energy Heron Lake has signed a deal to acquire the struggling Heron Lake BioEnergy ethanol plant in Minnesota for $55 million. The plant has been operating with negative margins for the past five quarters and has debts amounting to $45 million, regulatory documents showed. Guardian Energy was formed by four ethanol producers that were also part of the group that acquired an ethanol plant in Janesville, Minn., in 2009.

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Star Tribune (Minneapolis-St. Paul, Minn.)

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