CORRECTION: Prentice Elevator Sells Feed Business Only

By Benjamin Cox on April 27, 2020 at 11:34am

The Prentice Elevator has not sold the Chapin Elevator. Confusion surrounding our story about purchase of Earlybird’s usage of the feed location at the Chapin site has caused confusion.

John Aggert of Prentice Elevator explains the transaction between the two companies. “The feed mill is a separate building on the property. We’ve essentially sold the feed business to them. We’ve retained ownership of the physical elevator, all the grain bins and legs, the office, and the scales, and all of the other out-buildings that go along with that. The feed business that we run in conjunction with Brandts in Chapin, we’ve retained that. All we have done is sold the book-a-business that goes along with the feed. When they get their new facility built there in Chapin across from the gas station, they will move over there. They are just actually renting the old feed mill building and part of the office from us. The feed building has been there since the early 1900s.”

Aggert says the two companies also have another agreement in place. “We do have a marketing agreement with them to supply all their corn to them. They are going to buy all their corn from us. Customers will still be able to take advantage of what’s called a ‘grain bank.’ Farmers can bring their own corn in and store it at the elevator until the need it to turn it into feed. They can use the service at a very minimal cost.”

The Prentice Elevator again will continue the operation of the Chapin elevator along with their operations at Strawn’s Crossing, Ashland, Philadelphia, and Tallula.