Green Plains Renewable Energy, Inc. (GPRE) Announces Acquisition of Majority Interest in Biofuel Terminal Operator Blendstar, LLC
Today, Green Plains Renewable Energy, Inc. acquired 51% of Houston-based biofuel terminal operator Blendstar, LLC for $9.0 million. Blendstar currently operates terminal facilities in Oklahoma City, Little Rock, Nashville, Knoxville, Louisville and Birmingham, and has plans to build terminals in Collins, Mississippi and Shreveport, Louisiana. Todd Becker, Chief Executive Officer, stated, "Through Blendstar, we are making an important investment in downstream biofuel enterprises. The Blendstar platform allows customers to source, store and blend ethanol and biodiesel to meet growing demand, now and in the future. Green Plains will continue to be a Blendstar customer, and the relationship should benefit Green…