Remaining 50 percent ownership stake has been purchased
General Mills has finalized an agreement to have its 50 percent ownership stake in a grain facility to be purchased by Viterra USA. Viterra previously held the other 50 percent ownership stake of the Northgate, N.D. grain facility through a joint venture with General Mills, and will now be sole owner of the business.
“We’re pleased to take on full ownership of this facility, and to continue building our presence in the United States. We’re looking forward to continuing to work closely with local customers to provide them with superior service, including access to global markets, the expertise of our staff, flexible contracting options, and a wide variety of online tools that are available exclusively to Viterra customers across our asset network,” stated Kyle Jeworski, President and Chief Executive Officer for North America at Viterra.
The transaction has been approved by all necessary parties, closing on February 28, 2019.
Viterra is well-rooted in North Dakota, operating special crops facilities in Ray and Minot, as well as, a grain elevator in Grand Forks.