---
schema_version: "secwatch.filing_event.v1"
accession: "0000821026-25-000147"
form_type: "8-K"
ticker: "ANDE"
cik: "0000821026"
company_name: "Andersons, Inc."
filed_at: "2025-08-04T23:59:59+00:00"
generated_at: "2026-05-17T21:40:43.584348+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Andersons buys remaining 49.9% of ethanol JV for $425M; Q2 net income falls to $8M

## Summary
- Acquired remaining 49.9% of TAMH for $425M ($385M net of $40M working capital); closed July 31.
- Q2 2025 net income $7.9M ($0.23 diluted EPS) vs $36.0M ($1.05) in Q2 2024; adjusted EPS $0.24.
- Adjusted EBITDA $65.2M vs $98.3M; Agribusiness adj pretax income $16.8M, Renewables $9.6M.
- Deal funded with cash on hand and existing credit; expects immediate EPS accretion and streamlined decision-making.

## SEC filing metadata
- accession: 0000821026-25-000147
- form_type: 8-K
- ticker: ANDE
- cik: 0000821026
- company_name: Andersons, Inc.
- filed_at: 2025-08-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/821026/000082102625000147/0000821026-25-000147-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/821026/000082102625000147/ande-20250731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000821026-25-000147
- JSON: https://secwatch.observer/filing/0000821026-25-000147.json
- Plain text: https://secwatch.observer/filing/0000821026-25-000147.txt

## Key facts
- M&A Transactions
  Andersons, Inc. completed an acquisition involving MPC Investment LLC ("Marathon") for $425.0 million, inclusive of $40.0 million of working capital (closed 2025-07-31).
  - Action: acquisition
  - Counterparty: MPC Investment LLC ("Marathon")
  - Consideration: $425.0 million, inclusive of $40.0 million of working capital
  - Closing: 2025-07-31
  source text: On July 31, 2025, The Andersons, Inc. (the "Company") entered into a unit purchase agreement (the "Purchase Agreement") with MPC Investment LLC ("Marathon") to acquire the remaining 49.9% ownership interest in The Andersons Marathon Holdings LLC ("TAMH") for $425.0 million, inclusive of $40.0 million of working capital. The transaction closed on July 31, 2025, funded with cash on hand and debt from existing credit facilities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/821026/000082102625000147/0000821026-25-000147-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.