Viterra Limited announced today that it has entered into a stock purchase agreement with Marubeni America Corporation to acquire the grain and ingredients business of Gavilon Agriculture Investment, Inc.
Gavilon is based in Omaha, Nebraska, USA and originates, stores and distributes grains, oilseeds, as well as feed and food ingredients, to food manufacturers, livestock producers, poultry processors, soybean processors and ethanol producers worldwide.
Gavilon’s network of facilities is located in key growing areas across the U.S., with access to major railroads, rivers and ports. It also has international operations in Mexico, South America, Europe and Asia, along with an indirect minority ownership interest in two port terminals located in Kalama, Washington and Portland, Oregon.
In 2012, Marubeni Corp. purchased Gavilon for $3.6 billion and assumed $2 billion in Gavilon debt.
Viterra's agreed purchase price for the acquisition of Gavilon is $1.125 billion plus working capital, and is subject to certain customary purchase price adjustments.
“The combination of the Gavilon and Viterra origination businesses will enable us to provide more value and flexibility to our customers,” said David Mattiske, Chief Executive Officer of Viterra Limited. "We will be able to rapidly enhance our sustainable supply chains, provide higher levels of quality control and reliability, while creating exciting opportunities for our customers and employees.”
"We look forward to welcoming the employees of Gavilon to the Viterra team, and further strengthening the successful business and commercial relationships Gavilon has built with producers and consumers."
The transaction is subject to customary closing and regulatory approvals and is expected to close in the second half of 2022.
Source: Viterra Limited, which is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.