Canada-based grain handling firm Viterra Limited announced this month that a subsidiary completed a $1.12 billion transaction to acquire the grain and ingredients business of Gavilon Agriculture Investment Inc.
“Gavilon’s business has all they key attributes that support our long-term strategic plan, and allows us to provide additional value to our customers at origination and destination,” Viterra CEO David Mattiske said in a release. “This acquisition further strengthens our global network by providing us with a material presence in every major exporting region and makes us one of the largest origination businesses in our industry.”
The assets will be integrated into Viterra’s global network and the Viterra brand will be implemented across the business in early 2023.
“It gives me great pleasure to welcome Gavilon’s employees to the Viterra team,” Mattiske said. “I look forward to a smooth integration as we work together to generate further opportunities for both our employees and customers, while creating added value for our shareholders and investors."
Gavilon is based in Omaha, NE and specializes in the origination, storage, and distribution of grains, oilseeds, feed, and food ingredients.