Cargill to sell grain and crop inputs assets in Ontario
(Posted on 30/03/18)
Cargill has announced it has reached an agreement on the sale of Cargill’s grain and crop inputs retail assets in Ontario, including its ownership in South West Ag Partners, to La Coop fédérée, an agri-food cooperative with operations across Canada.
The sale comprises 13 grain assets and crop inputs retail assets, and Cargill’s 50 percent share of South West Ag Partners, a joint venture which includes 9 grain and crop inputs facilities in Ontario. The sale does not include the Cargill export terminal in Sarnia, or the AgResource crop inputs wholesale business. All other Cargill grain and crop inputs assets in Canada and all other Cargill businesses in Ontario or throughout Canada are not included in the sale agreement.
Terms of the pending sale are not being disclosed. Finalization of the transaction will take place upon the completion of definitive agreements and any required regulatory reviews, which are expected the second quarter of the calendar year.
“Cargill continually evaluates its assets to ensure its sites are operating efficiently and are competitive in the areas it serves,” said Dave Baudler, managing director for Cargill’s grain business. “After an in-depth evaluation of our grain and crop inputs businesses in Ontario, we came to the conclusion that a sale of those assets was the best path forward to remain competitive and deliver on our growth strategy. La Coop fédérée was the buyer of choice to ensure a smooth transition for employees and customers.”
“Our Agromart retail network and LCF grain trading businesses have been growing steadily in recent years and the addition of these facilities will be a complementary fit to existing operations in Ontario, which already include four crop input terminals, 16 locally-owned joint-venture retailers and a grain trading group,” added Sébastien Léveillé, executive agribusiness vice-president for La Coop fédérée.
Glenn Houser, managing director for Cargill’s crop inputs business, reiterated Cargill’s dedication to its growers and customers. “Cargill remains committed to helping Canadian growers and agricultural producers succeed,” said Houser. “We will maintain the operation of 40 crop inputs retail locations, 26 elevator assets, five export terminals, and two oilseed processing facilities to serve growers throughout the country.”
"We are confident that existing customers will benefit greatly from our experience and expertise in providing crop input, grain handling and merchandising services in the region, and from having access to a broad agribusiness retail network that reaches well beyond Ontario, with over a hundred affiliated locations across Canada," added Sébastien Léveillé.
“South West Ag Partners continually looks for opportunities to ensure its business is operating efficiently and is aligned to meet the needs of our customer,” said Paul Hazzard, General Manager for South West Ag Partners Inc. “Working with La Coop fédérée will, without a doubt bring new opportunities to our customers,” he added.
Latest News
Bühler and Vyncke form strategic partnership
(Posted on 05/03/21)Bühler Group and Vyncke have formed a strategic partnership to offer integrated solutions with... Read more
US steel imports down in January
(Posted on 01/03/21)Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) has reported that... Read more
Bumper crop breaks GrainCorp records
(Posted on 01/03/21)With the winter crop harvest close to completion on Australia’s east coast, GrainCorp is celebrating... Read more
Rio Tinto reiterates apology as annual report published
(Posted on 24/02/21)Rio Tinto has published its 2020 Annual Report and its Sustainability Fact Book. These documents complement... Read more
Rusal becomes preferred supplier to Kosei
(Posted on 24/02/21)Rusal, a leading global aluminium producer, has announced that it has been named the preferred global... Read more
Rusal acquires German aluminium producer
(Posted on 17/02/21)Rusal a leading global aluminium producer, has announced that it has agreed to acquire the business... Read more
Low-carbon iron MoU signed
(Posted on 17/02/21)Rio Tinto, Paul Wurth S.A. and SHS-Stahl-Holding-Saar GmbH & Co. KGaA (SHS) have signed a Memorandum... Read more
Ukraine’s agricultural export record
(Posted on 10/02/21)The share of agro-industrial products in the general structure of exports from Ukraine in 2020 reached... Read more
Rusal operating results
(Posted on 10/02/21)Rusal, a leading global aluminium producer, has announced operating results for the fourth quarter of... Read more
Global crude steel output decreases by 0.9%
(Posted on 04/02/21)Global crude steel production reached 1,864.0 million tonnes (Mt) for the year 2020, down by 0.9% compared... Read more
