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
Schumacher will replace Alan Jope, who announced his decision to retire last September, less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.
A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.