The third largest flour milling company in America will be headquartered in Chattanooga with a new corporate name following the merger Monday of Cereal Food Processors into Milner Milling Inc.
The new corporate name, Grain Craft, brings together three milling companies combined over the past 11 years.
Milner Milling Inc., which bought half of Pendleton Flour Mills LLC in 2003, said Monday it completed its previously announced purchase of Cereal Food Processors.
The company will be headed by Charles Stout, who worked with the Chattanooga-based FourBridges to arrange and complete the purchase.
"All three companies have similar beliefs and philosophies about how to service the customer and how to do business; these core values will only grow stronger as we become one company," Stout said in a statement Monday. "We look forward to building on the combined tradition and heritage of all three of these great companies while creating a new leader in the flour milling industry."
Terms of the deal among the privately held firms were not disclosed, but Stout said the new company will be headquartered in Chattanooga.
The Grain Craft footprint consists of 16 mills in 11 states with a combined daily capacity of 166,260 cwts (hundred weights), or about 11 percent of U.S. flour sales. The company is the third biggest flour milling company, behind Ardent Mills and ADM Milling.
Pendleton Flour Mills was formed by joining two prominent milling companies in the Pacific Northwest and professionally managed from Chattanooga.
Contact Dave Flessner at dflessner@timesfreepress.com or at 757-6340.