Cargill has announced that it has sold its grain and crop input retail assets and Ontario, Canada to agri-food co-operative La Coop fédérée.
La Coop fédérée will acquire 13 of Cargill’s grain and crop inputs retail assets in Ontario, and will also take Cargill’s 50% stake in the South West Ag Partners joint venture company.
However, Cargill will retain its export terminal in Sarnia, Ontario, and will also retain its AgResource crop inputs wholesale business.
Dave Baudler, managing director for Cargill’s grain business said: “Cargill continually evaluates its assets to ensure its sites are operating efficiently and are competitive in the areas it serves.
“After an in-depth evaluation of our grain and crop inputs businesses in Ontario, we came to the conclusion that a sale of those assets was the best path forward to remain competitive and deliver on our growth strategy.
“La Coop fédérée was the buyer of choice to ensure a smooth transition for employees and customers.”
Sébastien Léveillé, executive agribusiness vice-president for La Coop fédérée added: “Our Agromart retail network and LCF grain trading businesses have been growing steadily in recent years and the addition of these facilities will be a complementary fit to existing operations in Ontario, which already include four crop input terminals, 16 locally-owned joint-venture retailers and a grain trading group.”
Source: FoodBev
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