Fargo company buys HIllsboro processor
FARGO -- Anchor Ingredients Co. of Fargo has purchased Identity Preserved Ingredients of Hillsboro to become a triple threat in the ingredient market for specialty crop products. Anchor will process pearled barley, peas, flaxseed, chickpeas, oat ...
FARGO -- Anchor Ingredients Co. of Fargo has purchased Identity Preserved Ingredients of Hillsboro to become a triple threat in the ingredient market for specialty crop products.
Anchor will process pearled barley, peas, flaxseed, chickpeas, oat groats, ancient grains, organics and other specialty crops for food and pet markets.
Al Yablonski founded Anchor Ingredients in March and manages the company with Seth Novak, also from Fargo. The company is part-owned by Arthur Companies of Arthur, N.D., and -- with the IPI acquisition -- now covers the triple threat of originating, processing and distributing ingredients.
Terms of the purchase were not disclosed. The company has 13 employees.
Arthur Companies has nine grain elevators in central and eastern North Dakota, and relationships with farmers, some looking to diversify into other specialty crops, Yablonski says.
Brooks Burgum, chief executive officer of Arthur Companies, says the Anchor partnership, and the addition of IPI, creates "one of the strongest special crop ingredient players in the industry."
Yablonski says the three phases of procurement, processing and distribution under one umbrella fits into the regulatory environment that requires quality control and food safety for consumers of both pet and human food.
IPI is the former Red River Valley Seed Co. It is a full-service special crop processing facility, located at the heart of key growing regions and access to both Interstate 29 and BNSF Railway. The company was owned by Jay Boeddeker, who renamed it to IPI in 2012.
The Hillsboro company has 366,000 bushels of storage, three facilities and two processing plants -- one west of the I-29 at Hillsboro and the other downtown -- and another facility for loading and unloading rail cars, also in Hillsboro.
Anchor’s Yablonski is from Minneapolis and a 2005 finance graduate of the University of St. Thomas in St. Paul, Minn. He was an investment banker for Craig-Hallum Capital Group in Minneapolis and was a trader of special crops from 2011 to early 2015 for the pet market for Specialty Commodities Inc. of Fargo, which was acquired by ADM in November 2014.
Novak grew up in Fargo and is a 2005 graduate from North Dakota State University in business administration. He was with Specialty Commodities Inc. from 2009 to 2015.