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Richardson announces successful takeover of certain Viterra assets

Richardson completes acquisition of grain elevator and crop centre assets from Viterra

By , Farms.com

Canadian grain handler – Viterra has completed the transfer of certain assets over to Richardson International, which is part of Glencore’s takeover of Viterra. The two companies announced the completion of the takeover on Wednesday. Winnipeg-based Richardson has now acquired 19 elevators and 13 crop input centers. The $800 million-plus deal was first announced more than a year ago.

The acquired facilities will be added to Richardson Pioneer’s network of grain elevators and crop input facilities in Western Canada. The acquisition of assets include – certain Canadian grain elevators (19), several agri-centres (13), all of the assets relating to Viterra’s oat milling business, all assets relating to the 21st Century Grain Processing business in the U.S., and a terminal in Thunder Bay, Ontario.

The President of Richardson, Curt Vossen, released a statement saying that this move marks an important milestone in the company’s history, noting that 2013 is the 100th anniversary of Richardson Pioneer. The company says the acquisition will allow them to grow their presence in Western Canada, which will enhance their ability to serve its customers. Vossen also adds that the oat business will provide Richardson the opportunity to diversify their business and establish a presence in the United States.

 


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