SW Minn. ethanol plant acquired by Granite Falls investors


The owners of one ethanol plant in southwestern Minn, will acquire the controlling stake in another.

The Star Tribune reports that regulatory filings show that Granite Falls Energy, which owns an ethanol plant in Granite Falls, has acquired a controlling stake in the nearby Heron Lake BioEnergy plant for $17 million.

Eaarlier this year, it was announced that the Heron Lake facility BioEnergy would be sold to a group of ethanol producers for $55 million, but the deal fell through. Heron Lake BioEnergy has reported losses for seven quarters in a row.

Under the deal that closed last week, the newspaper reports that Granite Falls Energy acquired an investment group’s interest in the Heron Lake plant for $8 million in cash, a $4 million note and assumption of a $5 million note held by Granite Falls Bank.

The Granite Falls and Heron Laket plants will remain separate companies, but will share some management and may combine costs, including marketing and sharing rail cars. Together the plants employ more than 70.

Next Up

ballot voting vote

Appeals court changes rules for MN absentee ballots received after Election Day

Pending a further challenge, votes received after 8 p.m. on Election Day may not be counted.

Donald Trump

Confusion over where Trump campaign rally will be held Friday

It sounds like it'll be held at the airport in Rochester.

Screen Shot 2020-10-29 at 3.19.05 PM

This video of the Lowry Hill Tunnel walls being cleaned is oddly satisfying

The tunnel will be closed overnight Thursday for cleaning.

gray wolf

Gray wolf removed from the endangered species list

A decision on whether they can be hunted in Minnesota will come later.

covid saliva test

Minnesota opening its 7th saliva testing location in St. Paul

The tests are free and open to anyone regardless of if they have symptoms.

pete stauber - qunn nystrom CD8

Election 2020 preview: Minnesota's 8th Congressional District

It's a race between incumbent Rep. Pete Stauber and Democratic challenger Quinn Nystrom.

fire, flames

Lives saved as passerby, city workers rescue from 3 from Golden Valley fire

The Golden Valley Fire Department responded to the fire Wednesday morning.

Caribou Coffee Holiday 2020

Caribou Coffee rolls out holiday cups, menu early

The holiday season is underway at some Twin Cities stores, with a nationwide rollout planned for Nov. 5.

Malik Beasley

Charges: Timberwolves' Beasley pointed assault rifle at family on a home tour

The family was on the Parade of Homes tour when Beasley allegedly pointed the gun at them, telling them to get off his property.