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Mansfield Oil Acquires C&N Cos.

July 2, 2009 -- Deal enhances Mansfield’s position in ethanol and biodiesel markets.

-- Mansfield Oil, a downstream oil company providing fuel services throughout the U.S. to convenience stores and other retailers, is acquiring C&N Cos., a leading ethanol marketer based in Minneapolis.

Mansfield, which operates 650 bulk terminals and 900 supply points in 48 states, plans to immediately begin marketing C&N products to refiners and blenders, the company stated.

C&N was founded by Jon Bjornstad, a former Cenex Petroleum unbranded fuel marketing manager who established C&N in 2000 to produce and market biofuels and ethanol. The company now accounts for more than 500 million gallons of ethanol production at 11 plants in the U.S. and Mexico and 150 million gallons of biodiesel. He will continue in his role as president.

Bjornstad believes selling to Mansfield will take the company to the “next level,” according to Terry Monroe of American Business Brokers, who along with Bill Fecht of WJS Services, served as advisor to C&N on the sale.

Bjornstad told Ethanol Producers magazine that the acquisition provides an advantage for his ethanol plant customers. “We’re going to be able to tap into 50-plus year relationships with the blender customers that my ethanol plant customers have in North America,” he said. “And that’s really important to my ethanol plant clients as we efficiently and effectively bring their product to market. For our plants, at the end of the day, it’s all about transportation logistics and the ultimate netbacks that they can achieve.”

Doug Haugh, executive vice president and CIO of Mansfield Oil, is leading the transition team. “It’s a substantial investment on our part in the renewable fuels and ethanol business,” he said, adding it gives C&N all the tools, resources and support needed to continue growing and representing ethanol facilities.

The deal greatly enhances the Georgia-based Mansfield’s geographic strength in the Midwest.

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