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Cargill Sells Malt Unit to French Cooperative

January 2, 2019
Cargill plans to sell its malt business to French cooperative Axéréal. Image courtesy of Pixabay
Cargill plans to sell its malt business to French cooperative Axéréal. Image courtesy of Pixabay

American agribusiness Cargill will sell its global malt business under a newly-formed agreement with French agricultural cooperative Axéréal, the firms announced in a press release on Dec. 20. Terms of the transaction were not disclosed.

Under the deal, Axéréal’s malt-oriented subsidiary Boortmalt will take on 15 Cargill facilities located in four continents. Some 500 workers employed by the American firm at the sites.

“The transaction would give Boortmalt access to a global footprint and offer further growth opportunities for Cargill’s malt business and its people,” the joint release said. 

Cargill’s malt unit primarily serves the brewing and food and beverage industries. 

Pending completion of regulatory approvals and other closing conditions, the companies said they expect the sale to close in the second half of this year. 

Axéréal currently operates in 13 countries and employs 3200 people. 

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