Minneapolis | Reuters — Bunge has filed for regulatory approvals for its merger with crop handler Viterra in “major jurisdictions” in North and South America, Europe and China, and has gotten the green light from some of its smaller markets including Colombia, CEO Greg Heckman said on Thursday. The merger, which would create a company […] Read more
Tag Archives acquisitions
Bunge seeks antitrust approvals for Viterra merger in major jurisdictions
Commodities market competition healthy in Canada, U.S., CEO says
Investment firm buys Saskatchewan drying system maker
EIC buys DryAir for $60 million
A Winnipeg investment firm with ownership stakes in Canadian manufacturing and airlines has bought a Saskatchewan company that makes heating and drying systems for grain growers and other sectors. Exchange Income Corp. (EIC) announced Oct. 5 it has bought DryAir Manufacturing of St. Brieux for about $60 million in cash and EIC stock. DryAir, in […] Read more
DLF sowing the seeds of increased alfalfa breeding with Corteva aquisition
DLF has acquired Corteva Agriscience’s alfalfa breeding program, effective Sept. 1. “We have consistently aimed to establish a strong presence in alfalfa across all our global markets, including North America,” said Soren Halbye, group CEO of DLF, in a release. “Acquiring a renowned alfalfa research program presents a rare opportunity for DLF to significantly enhance […] Read more
Dreyfus to step up spending after earnings boost
'Complementary' acquisitions envisioned
Paris | Reuters — Louis Dreyfus Co. (LDC) could nearly double annual investments in the coming years as rising profits help it pursue expansion in its traditional crop trading and newer food-ingredient activities, its CEO told Reuters. The group on Wednesday reported a jump in annual net profit to $1 billion, joining other global crop […] Read more
Cargill, Continental close U.S. chicken deal
Washington | Reuters — Cargill and Continental Grain said on Friday that they had closed their deal to buy Sanderson Farms, the third largest chicken producer, in a deal worth some US$4.53 billion. Under the deal, which was announced last August, Sanderson is being combined with Continental Grain subsidiary Wayne Farms. Sanderson will cease trading […] Read more
Viterra seeking expansion in Americas, Australia, sources say
London | Reuters — Swiss miner and trader Glencore and its partners are looking at options to expand their agricultural joint venture Viterra, including targeted bolt-on acquisitions in the Americas and Australia, two sources close to the matter said. The firm, formerly known as Glencore Agriculture, made the headlines in 2017 for a failed takeover […] Read more
Olymel CEO dies of ‘sudden’ cancer
Rejean Nadeau died Thursday at 71
The CEO of Canadian pork and poultry packer Olymel has died of a “sudden and virulent cancer” at age 71, his company reported Friday morning. Rejean Nadeau, the CEO of Sollio Co-operative’s meatpacking and processing arm since 1996, died Thursday at his home at Rougemont, Que., about 25 km south of St-Hyacinthe, Olymel said in […] Read more
Kansas City Southern plans to accept CP’s bid
Deal would create new lanes for Prairie freight, CP says
Reuters — U.S. railway Kansas City Southern said on Sunday it planned to accept Canadian Pacific Railway’s US$27.2 billion cash-and-stock acquisition offer as superior to its US$29.6 billion deal to sell itself to Canadian National Railway. CN now has until the end of Friday to submit a better offer or lose its deal with KCS. […] Read more
Saputo to buy British cheesemaker Wensleydale
Canadian dairy firm expands U.K. assets
One of the world’s largest dairy processors is set to expand its reach further into the U.K. with a deal for the maker of Yorkshire Wensleydale cheese. Montreal-based Saputo announced Monday it has an all-cash deal in place to buy Wensleydale Dairy Products Ltd. for 23 million pounds (about C$39.7 million). Pending U.K. regulatory approvals, […] Read more
Syngenta’s Shanghai IPO to fund growth, acquisitions
Hong Kong/Zurich | Reuters — Syngenta Group will use the proceeds from its US$10 billion initial public offering (IPO) to fund internal growth and an acquisition spree to snare more of the $100 billion market for seeds and sprays, the agrichemical giant said on Friday. The company’s prospectus to list on Shanghai’s Nasdaq-style STAR Market […] Read more
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