Sector News

Cargill to sell two oilseed factories in Europe to Bunge

August 8, 2016
Food & Drink

Cargill Inc is to sell two oilseed crushing plants in western Europe to Bunge with a combined annual crushing capacity of about 2 million tons, the agricultural commodity traders said on Friday.

The planned sale covers a plant in the port of Amsterdam in the Netherlands, along with some related port terminal assets, and a facility at the French port of Brest, the companies said in a joint statement.

Financial details were not disclosed.

Reuters reported in May that Cargill was in talks to sell the two sites and that Bunge was interested in acquiring them.

“The assets are highly complementary to Bunge’s existing soy processing operations in Europe, and will allow Bunge to further expand its global oilseed processing footprint into key Northern European destinations,” the statement said.

“Cargill will retain its two other soybean processing facilities in Western Europe, in the ports of Barcelona in Spain and Liverpool in the United Kingdom, as these plants are firmly integrated with a number of Cargill’s other businesses.”

Privately held Cargill launched restructuring last year, as global trading houses came under pressure from falling commodity prices and slowing demand in emerging markets.

By Gus Trompiz

Source: Reuters

Related News

September 18, 2020

Cargill to advance regenerative agriculture practices across 10m acres of farmland

Food & Drink

Cargill has announced that it is supporting farmer-led efforts to adopt regenerative agriculture practices on 10 million acres of crop land in North America by 2030. The initiative will focus primarily […]

September 17, 2020

PepsiCo pilots invisible digital watermark technology to boost recycling

Food & Drink

PepsiCo is trialling products encoded with invisible digital watermarks for more effective recycling. The technology is pegged as the “holy grail” that will make mechanical sorting more efficient. The beverage […]

September 17, 2020

Lactalis to acquire portfolio of Kraft Heinz branded foods

Food & Drink

Lactalis Group is positioned to acquire a portfolio of Kraft Heinz brands, expected to close in the first half of 2021. The dairy supplier will also be partnering with the […]