The Andersons, Inc. announces fourth quarter 2017 cash dividend of 16 cents per share

MAUMEE, Ohio, 2017-Aug-28 — /EPR Retail News/ — The Andersons, Inc. (Nasdaq: ANDE) announces a fourth quarter 2017 cash dividend of 16 cents ($0.16)per share payable October 23, 2017, to shareholders of record on October 2, 2017.

This is The Andersons’ 84th consecutive quarterly cash dividend since listing on the Nasdaq on February 20, 1996. There are approximately 28.3 million common outstanding shares.

About The Andersons, Inc.
Founded in Maumee, Ohio, in 1947, The Andersons is a diversified company rooted in agriculture conducting business across North America in the grain, ethanol, plant nutrient and rail sectors. For more information, visit The Andersons online at www.andersonsinc.com.

For further information:
John Kraus
Director
Investor Relations
Phone: 419-891-6544
E-mail: investor_relations@andersonsinc.com

SOURCE: The Andersons, Inc.

The Andersons, Inc. to exit retail business and close its remaining four stores in 2017

MAUMEE, Ohio, 2017-Jan-17 — /EPR Retail News/ — The Andersons, Inc. (Nasdaq:ANDE) announces today (Jan 15, 2017) its plans to exit the retail business and close its remaining four retail stores in the second quarter of 2017. The retail closings will have no impact on the Company’s grain, ethanol, plant nutrient and rail operations.

“The decision to close The Andersons stores was not easy for anyone involved,” says CEO Pat Bowe. “Choosing to cease a business that has spanned 65 years and employs about 1,050 people is tremendously difficult.”

The closing will eliminate approximately 650 positions in the Toledo area and 400 positions in Columbus, of which approximately 75 percent are part-time positions. The Company will provide employees with severance packages and outplacement services to assist them in their career transitioning.

During the past eight years the Retail Group has incurred pre-tax losses, including previous asset impairments, in excess of $20 million and closed three stores.

The full financial impact of this closure has not been determined. The Company expects to record pre-tax impairment charges on long-lived assets related to the Retail segment of approximately $6.5 million in the fourth quarter of 2016.

The Company expects to record a pre-tax charge in the range of $9 to $14 million in the first half of 2017 for severance costs and other costs associated with the closure. The Company also anticipates that the full carrying value of its inventory may not be recoverable during the store liquidation process. Gains or losses are anticipated on individual properties upon sale, however the Company is uncertain of the timing and amount of those sales.

Subsequent to the impairment charges noted above, the Retail Group’s assets at their December 31, 2016 carrying values include:

Inventory and other assets       $21.0 million
Long-lived assets                     $9.8 million

About The Andersons, Inc.

Founded in Maumee, Ohio, in 1947, The Andersons is a diversified company rooted in agriculture conducting business across North America in the grain, ethanol, plant nutrient and rail sectors. For more information, visit The Andersons online at www.andersonsinc.com.

The Andersons Stores Facts:

  • Original Warehouse Market opened in Maumee in 1952
  • Stores average 140,000 square feet
  • Stores average 125,000 different SKUs

For further information:

Jim Burmeister
VP
Finance & Treasurer
Phone: 419-891-5848
E-mail: jim_burmeister@andersonsinc.com

SOURCE: The Andersons, Inc.

The Andersons, Inc. announces the appointment of Anthony Lombardi as Chief Information Officer

MAUMEE, Ohio, 2016-Sep-08 — /EPR Retail News/ — The Andersons, Inc. (Nasdaq: ANDE) has appointed Anthony Lombardi as its new Chief Information Officer, reporting to John Granato, Chief Financial Officer.

For 36 years, Tony has worked in various technology disciplines, including more than 30 years in IT strategy development and systems implementation.

“Tony’s extensive background in large systems implementations and strategy development combined with his track record of being a leader who engages, motivates and develops strong technical and operational teams will be a great asset to The Andersons,” said CFO John Granato.

Tony joins The Andersons after most recently serving as the Vice President of Global Business Services & Chief Information Officer for Armstrong World Industries in Lancaster, Pennsylvania. Prior to joining Armstrong World Industries in 1997, Tony worked for Unisys Corporation.

He earned a Bachelor of Science degree from Moravian College in Bethlehem, Pennsylvania, and a Master of Science degree in Computer Science from Villanova University in Villanova, Pennsylvania.

About The Andersons, Inc.
Founded in Maumee, Ohio, in 1947, The Andersons is a diversified company rooted in agriculture conducting business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also has a consumer retailing presence. For more information, visit The Andersons online at www.andersonsinc.com.

Contact:
Debbie Crow
Senior Manager
Corporate Communications
Phone: 419-891-6483
Email: debra_crow@andersonsinc.com

SOURCE: The Andersons, Inc.