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Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Crops

Bureau won’t challenge takeover of Canada Malting parent

U.K. also has 'no further questions'

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The owner of one of Canada’s major commercial maltsters says its takeover by a major French peer won’t be challenged by Canada’s antitrust regulator. United Malt Group, whose Canadian assets operate under the Canada Malting banner, last month locked in on a previously announced deal to sell itself to France’s Malteries Soufflet for A$1.5 billion […] Read more
The malting floor at Anglia Maltings’ Crisp Malt facility in the U.K. (Photo: CNW Group/Richardson International Ltd.)
Crops

Richardson buys into European malt market

Winnipeg agrifood firm buys U.K.-based Anglia Maltings

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Paris | Reuters — Canada’s biggest grain merchant Richardson International is entering the malt sector through the acquisition of U.K.-based Anglia Maltings Holdings (AMH), targeting rising demand for the beer and whisky ingredient, Richardson said on Friday without disclosing financial terms. Anglia Maltings operates seven malt facilities in the U.K., Poland, and Germany, with combined […] Read more
Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Crops

France’s InVivo makes bid for United Malt

Bid would include Canada Malting business

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Reuters — United Malt Group has received an indicative, non-binding offer from Malteries Soufflet, a branch of French agribusiness InVivo, the Australian commercial maltster said on Tuesday, valuing it at A$1.5 billion (C$1.36 billion). The A$5 per share offer represents a 45.3 per cent premium to United Malt’s last close of A$3.44. Trading in shares […] Read more
Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Crops

GrainCorp’s global malting spinoff gets shareholders’ blessing

Canada Malting to go to new owner, United Malt Group

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Shareholders in the Australian owner of Canada’s biggest malt company have voted nearly all in favour of a spinoff for their worldwide malting assets. During their general meeting Monday in Sydney, participating shareholders in GrainCorp voted over 99 per cent in favour of resolutions which will see the company’s malt business become a standalone ASX-listed […] Read more
Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Crops

Suitor quits bid for Australia’s GrainCorp

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Sydney | Reuters — Australia’s largest-listed grain handler, GrainCorp Ltd., said that suitor Long-Term Asset Partners (LTAP) has withdrawn its A$2.4 billion (C$2.26 billion) takeover bid after due diligence, pushing shares to five-month lows. GrainCorp stock dropped 11 per cent at the open of trade on Tuesday to hit close to where it stood preceding […] Read more
Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Crops, Markets

Canada Malting to join GrainCorp’s global malting spinoff

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The Australian owner of Canada’s biggest malt company plans to spin it off, along with its other worldwide malting assets, into a new stand-alone malt industry player. Sydney-based GrainCorp announced Thursday it plans to “demerge” its global malting business from its grains and edible oils business, forming two separate ASX-listed companies: MaltCo and “New GrainCorp.” […] Read more
GrainsConnect Canada, whose terminal under construction at Maymont, Sask., is shown here, plans to open an elevator at Huxley, Alta. in 2019. (GrainsConnect.com)
Crops

GrainCorp says offer not certain enough to make recommendation

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Reuters — Australia’s GrainCorp Ltd. on Wednesday said it was providing suitor Long-Term Asset Partners (LTAP) due diligence to put forward a more certain proposal. The country’s largest listed bulk grain handler earlier on Dec. 3 received a buyout proposal from little-known asset manager LTAP in an all-cash deal for A$2.38 billion (C$2.303 billion), or […] Read more
(ADM.com)
Crops

ADM sells stake in Canada Malting owner GrainCorp

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Chicago | Reuters — U.S. agricultural commodities trader Archer Daniels Midland has sold its 19.9 per cent stake in GrainCorp to underwriters UBS, just three years after a failed bid to wholly acquire the Australian grain handler, ADM said Thursday. The sale to the Swiss bank was valued at A$387 million (C$382 million), or A$8.53 […] Read more
Australia’s GrainCorp, whose Calgary malt plant is shown here, is in on a new joint venture to build Prairie grain handling capacity. (CanadaMalting.com)
Crops, Markets

Japanese co-op, Canada Malting owner make Prairie grain play

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A major Japanese farm co-operative and the Australian owner of Canada Malting are staking a new joint claim in Canada’s Prairie grain handling sector. Tokyo-based Zen-Noh Grain Corp. (ZGC) and Sydney-based GrainCorp on Monday announced plans to build new grain origination sites in Alberta and Saskatchewan, through a 50/50 Canadian-incorporated joint venture to be based […] Read more
Crops, Markets

GrainCorp to boost U.S. malt output, target craft beer boom

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Sydney | Reuters –– Australian agribusiness GrainCorp plans to nearly double output capacity at one its U.S. malt plants, to capitalize on soaring North American demand for craft beer. Typically produced by small, local brewers, the popularity of craft beers has grown rapidly in recent years in the U.S. as drinkers seek new tastes, with […] Read more

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