Latimer, Iowa (north central) | Following up on the Ardent Mills post from the other day with a bit more context. Ardent is closing their Mankato mill that has been there for 125 years.
Thought you guys would also find it interesting that Ardent mills is expanding their Commerce City Colorado location in wheat flour milling at the same time. Basically shifting production from Mankato to Colorado.
Also here is the ownership structure of Ardent Mills:
Ardent Mills is a joint venture between ConAgra Brands, Cargill, and CHS:
ConAgra Brands: Owns 44% of Ardent Mills
Cargill: Owns 44% of Ardent Mills
CHS: Owns 12% of Ardent Mills
The issue is not current excess capacity in milling its that a new mill can operate more efficiently and the owners of Ardent have no ties to MN even if they started in the upper Midwest. The Mankato facility is in need of upgrades and the location is not conducive for operations.
Ardent mills is also required to disclose their profits. Their after tax profits in 2023 were 453 M on revenues of 5.2 B. As a company, they are maximizing shareholder return. Closing Mankato is part of that mission. Local farmers are not their priority at all even if wheat could be sourced at fair prices to all. |
Ardent Mills Mankato
