Ceres Global Wraps Up Purchase of Elevator from Cargill

Agriculture, energy, and industrial products firm Ceres Global Ag Corp. announced Wednesday that its acquisition of the “Nicklen Siding” grain elevator and assets in Ridgedale, SK from Cargill Limited has closed.

“The completion of the Nicklen Siding acquisition continues the meaningful progress we have made on our goal to add strategic origination capabilities for our core products while also further expanding our geographic footprint in Canada,” Robert Day, president and chief executive officer of Ceres, said in a release. “We welcome the talented team from the Nicklen Siding location and sincerely look forward to working together to connect growers in Saskatchewan with Ceres’ valued end-use customers.”

Under the terms of the deal, Ceres Global will take on Cargill’s grain purchase contracts and will continue to employ Cargill workers at the site. The purchase was financed with existing working capital, according to the company.

Ceres Global first revealed plans to acquire the elevator from Cargill this July. The elevator has a capacity of 13,000 mt and offers a variety of services, including fertilizer blending and soil testing, information on Cargill’s website said.