Paris | Reuters — French co-operative group Vivescia has entered into an agreement to buy German malting barley trader Interbrau GmbH from Swiss grain trading group Ameropa, the companies said Thursday.
Founded in 1961, Interbrau specializes in international malting barley trading and logistics, and operates in Europe, Latin America, Asia, Australia and Canada.
The acquisition by Vivescia, parent of the world’s biggest maltster Malteurop, for an undisclosed amount still requires approval by competition authorities, it said.
“The acquisition of Interbrau would enable Vivescia to take advantage of the opening of barley markets internationally, increase its own malting barley production, and broaden its offering to its customers in the barley-malt-beer value chain,” Vivescia managing director Alain Le Floch said in a statement.
Read Also
Alberta crop conditions improve: report
Varied precipitation and warm temperatures were generally beneficial for crop development across Alberta during the week ended July 8, according to the latest provincial crop report released July 11.
Vivescia’s Canadian assets include its Malteurop malting plant in Winnipeg, which it acquired when it bought ADM’s malting business in 2008.
Ameropa is among the leading grain traders in central and Eastern Europe. The company said the deal with Vivescia came as it was making sizeable investments to enhance its grain origination infrastructure, including the construction of a new port terminal at Constanta in Romania.
The sale, Ameropa said, “is the result of the wish of both parties to concentrate on and strengthen their respective core businesses.”
Ameropa said Thursday it expects to have regulatory approvals in place and close the deal by the end of September.
— Reporting for Reuters by Valerie Parent and Sybille de La Hamaide. Includes files from AGCanada.com Network staff.
