United States : Greenfield Global announces plans to sell Minnesota ethanol plant
Greenfield Global Inc. is auctioning its 48 MMgy fuel ethanol plant in Winnebago, Minnesota, through Chabina Energy Partners LLC. The decision to sell aligns with Greenfield’s growth strategy. The plant, acquired in late 2020, had previously been operated by Corn Plus and idled in 2019 before resuming operations in 2021. Non-binding letters of interest are due by January 27, with a potential auction on January 29.
January 14, 2025
BY Erin Voegele
Canada-based Greenfield Global Inc. is offering its operational, full-staffed 48 MMgy fuel ethanol plant in Winnebago, Minnesota, for sale via auction, according to Chabina Energy Partners LLC. Non-binding indications of interest are due Jan. 27.
Greenfield has retained Chabina as its exclusive financial advisor to sell the Winnebago facility. According to information released by Chabina, the decision to sell the facility reflects Greenfield’s commitment to concentrating its resources on initiatives that more closely align with its long-term growth strategy.
The Winnebago facility, previously owned by Corn Plus, was acquired by Greenfield in late 2020. The plant originally began operations in 1994. Corn Plus operated the facility more than two decades before idling the plant in September 2019. Greenfield acquired the facility in 2020 and resumed operations at the plant in late 2021. The facility is currently operational.
According to information provided by Chabina, prospective bidders that desire to submit a bid must provide a non-binding letter of interest by Jan. 27. Greenfield will review these indicative offers upon receipt and may elect to immediately engage with a prospective bidder or bidders. The company may also elect to hold a formal auction of the plant. That auction would be held Jan. 29.
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Source : Ethanol Producer Magzine
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