MILLSBORO, DELAWARE, US — Mountaire Farms, an agricultural food processor specializing in chicken products, has signed a letter of intent to purchase three Maryland grain elevators from Nagel Farm Service, a family-owned agribusiness serving the US mid-Atlantic region.
The grain facilities in Preston, Cordova, and Wye Mills, Maryland, US, are key locations for farmers on the state’s mid-shore. Nagel Farm Service will retain its trucking, hardware and crop insurance businesses. Subject to satisfactory due diligence, Mountaire will finalize the purchase, announced Nov. 10, in the coming weeks. Financial terms were not disclosed.
“Our intention is to operate these facilities with the same level of exceptional service that local farmers have come to expect from Nagel Farms,” said Rex Holstein, vice president of Agri-Business for Mountaire Farms. “At Mountaire, we are a family-owned company just like the Nagels, and we share similar values. We appreciate how they’ve managed their business through the years, and we can’t wait to continue that legacy.”
Mountaire currently owns nine grain elevators in the Delaware, Maryland and Virginia (Delmarva) region and three feed mills.