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CWB And G3 Close Commercialization Deal

Three years after the disbandment of the Canadian Wheat Board, CWB is finally a private enterprise.
 
On Friday, G3 Global Grain Group officially closed the deal approved earlier this year, meaning it now owns a majority interest in CWB. This will be combined with Bunge Canada to form a new agribusiness, G3 Canada, Ltd.
 
"G3 acquired the legacy assets of the Canadian Wheat Board, including its Western Canadian elevator footprints, laker vessels, some of the port terminals in Thunder Bay and Trois-Rivières in Quebec," says Brett Malkoske, vice president of business development for G3. "It has also acquired the former Bunge Grain assets, including the terminal in Quebec City, and the country facilities in the province of Quebec."
 
However, Bunge Canada's existing oilseed processing operations remain with Bunge Canada, and are not part of the announced investment transaction.
 
Malkoske says the changes will be slow, but things will otherwise be business as usual.
 
"We're under no illusions, either," he says, "I mean, we know we have to work hard in the coming months and years ahead, really, to continue to earn farmers' business, to continue to earn their trust, and make G3 Canada the partner of choice for Western Canadian farmers."
 
Source : PortageOnline

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