Mountaire Farms has signed a letter of intent with Nagel Farm Service to purchase three grain elevators on the Eastern Shore of Maryland, company officials announced November 10.
The grain facilities, located in Preston, Cordova, and Wye Mills, are key locations for farmers on the Mid-Shore. Nagel Farm Service will retain its trucking, hardware and crop insurance businesses.
“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 agribusiness 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.”
Over the coming weeks, subject to satisfactory due diligence, Mountaire will finalize the purchase and work with employees on transitioning their employment, benefits and seniority to Mountaire.
Mountaire currently owns nine grain elevators and three feed mills on Delmarva.
