Bartlett Grain Company has completed its acquisition of Ceres Global Ag Corp after the deal was approved by shareholders at a special meeting held June 30, 2025.
“We see incredible potential in combining our networks and growing in new ways with the resources that Ceres brings to our portfolio,” said President and CEO of Savage Jeff Roberts in a May 20 news release. “With their great team and assets, we’ll build on our robust supply chain for our current and new customers alike.”
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Bartlett Grain, part of the Savage family of companies, completed the purchase through the newly formed numbered company for US$4.50 per share, valuing Ceres at US$140.19 million.
Minnesota-based Ceres is an international agricultural, energy and industrial products merchandising and supply chain company with 10 locations in Minnesota, Manitoba and Saskatchewan. The company also owns membership interests in three agricultural joint ventures in Minnesota and North Dakota.
Bartlett joined the Utah-based Savage family of companies in 2018. Its diverse agribusiness is focused on the acquisition, storage, transportation, processing and merchandising of grain, with nearly 200 locations across the U.S., Canada, Mexico and Saudi Arabia.
“Bartlett’s acquisition of Ceres vindicates the strategy we set out to achieve 12 years ago, which is to build the company into one of North America’s leading merchandisers of durum, oats, spring wheat and canola,” said Ceres chairman Jim Vanasek in May. “I believe Bartlett is a perfect fit in terms of geography, business lines and culture, and will take Ceres to the next level.”
With the closing of the transaction, it is expected that the shares will be delisted from the Toronto Stock Exchange at the close of trading on July 8, 2025 and that the company will promptly apply for an order to cease to be a reporting issuer in each of the applicable jurisdictions in Canada.
