Bunge, a global leader in agribusiness, food, and ingredients, through its Bunge Loders Croklaan JV with IOI Corporation Berhad, will acquire a newly constructed, port-based refinery located in IMTT’s (International-Matex Tank Terminals) from Fuji Oil.
The state-of-the-art facility has multi-oil refining capabilities and will enable Bunge to expand its existing customer base.
With the acquisition, Bunge will have a scalable, complementary port-based footprint capable of connecting North American food, feed, and fuel customers to global markets. Bunge expects to serve customers with the newly acquired capacity starting this quarter.
“This acquisition delivers on our long-term strategy to expand our value-added oils business by accelerating reach across North America. This facility will connect with our existing footprint and enable Bunge to better serve our customers,” commented Aaron Buettner, president of Food Solutions at Bunge.
Bunge plans to significantly expand the facility’s current capacity, creating new job opportunities for the local community.
"We are excited for the opportunity to continue to expand and grow, working alongside great local partners such as IMTT, who Bunge has had an 80-year partnership with storing and shipping vegetable oils in the Gulf,” said Brett Caplice, Bunge’s vice president of Refined and Specialty Oils in North America.