AURORA- Aurora Cooperative Elevator Company, a leading agricultural retailer in the high plains, is expanding its business. The company announced Tuesday that it has signed a definitive agreement with Pacific Ethanol for the sale of its 74% ownership interest in Pacific Aurora, LLC for $52.8 million before adjustments for working capital.
With this investment Aurora Cooperative will assume operational and sales management for all the ethanol, co-products, grain and rail assets. Aurora Cooperative will rename Pacific Aurora LLC to Aurora Cooperative Ethanol LLC, which will own both ethanol plants and the inside loop track. Aurora Cooperative Elevator Company will own the grain elevator and outside loop track. Aurora Cooperative will own and operate 100% of the Aurora West complex, including the dry shed, liquid fertilizer storage, warehouse, grain facilities, ethanol plants, rail assets and A-Stop fueling station.
Included in the sale are two ethanol production facilities with a combined annual production capacity of 145 million gallons, a grain elevator with storage capacity of 4.1M bushels and integrated rail facilities located in Aurora. The sale is anticipated to close within the next 45 days.