Witmer’s Sells 3 Properties for $8M in Acquisition Deal
SALEM, Ohio – Three properties in Beaver and Goshen townships have sold for more than $8 million as part of a previously announced acquisition of Witmer’s Feed and Grain Inc. by Heritage Cooperative Inc., according to records from the Mahoning County Auditor’s office.
The transaction includes land and buildings that comprised Witmer’s feed, grain, retail and agronomy operations.
Records from the auditor’s office show Witmer’s property at 15970 Front St. in Goshen Township sold on Monday for $7 million.
Before the sale, Witmer’s used the property as a store and warehouse, where customers could drop off grain and pick up bulk fertilizer.
Additionally, records show a $1 million sale of three parcels at 13856 Columbiana Canfield Road in Beaver Township by Millstone Properties to Heritage Cooperative. The Millstone Farm and Gardens was part of Witmer’s business that served as the location for the agronomy facility. The 5.42 acres of properties had an appraisal value of $110,289.
A third sale of 12 parcels along Renkenberger Road in Beaver Township and Pricetown Road in Goshen Township also recently sold to Heritage Cooperative for a combined price of $100,000.
Witmer’s was founded 44 years ago by Dave and Joanna Witmer and had operations in Columbiana and Salem, as well as in Berlin, Pa.
Heritage Cooperative, based in Delaware, Ohio, has 45 locations and employs more than 500. The company offers wide product diversification that includes propane, diesel and gas services; agronomy; crop financing; feed for a variety of farm animals and pets; and country stores with supplies for lawns, gardens and wildlife.
The deal between Witmer’s and Heritage includes the purchase of the feed brands Witmer Feed, Edge and Show It, which are sold in Ohio, Pennsylvania, West Virginia, New York and Maryland. The details of that part of the deal are unknown.
At the time the deal was reached June 1, both Witmer’s and Heritage announced it as a positive new opportunity for the customers, employees and the long-term strategic alignment of the businesses.
“The Witmer Feed and Grain management team runs a terrific business and the company’s employees operate it superbly,” Jeff Ostenkowski, president and CEO of Heritage Cooperative, said at the time of the June announcement. “I am confident that the addition of the feed, grain, agronomy and retail operations will benefit Heritage and Witmer customers immediately.”
Mike Witmer, president of Witmer’s Feed and Grain Inc., indicated at the time that it is his intent to be involved in serving area customers, adding, “our vision and values align well with Heritage and together we will provide superior customer service and efficiencies with this strategic alignment.”
Copyright 2022 The Business Journal, Youngstown, Ohio.