UK-Canadian grain handler and merchandiser Richardson International is entering the malt sector through the UK-based Anglia Maltings Holdings (AMH) acquisition, the company recently announced without disclosing financial terms.
The grain elevator is executing this acquisition through its subsidiary Richardson Malting, based in the UK.
The company said the acquisition will help it meet the growing global demand for malting barley driven by the brewing and distilling industries.
Crisp Malt collaborates with local farmers to source the highest-quality malted barley, serving breweries and distilleries, and the food industry worldwide.
On the other hand, MFP specializes in cereals and pulses production for brewing and animal feed. EDME Food Ingredients focuses on malted and non-malted products catering to the baking industry.
“As experienced handlers of malting barley in North America, this is an exciting next step in our long-term strategy, which includes the diversification of our business and continued growth in the food processing industry,” said Curt Vossen, CEO of Richardson International.
According to Curt Vossen, Richardson has been interested in entering the malting business for 20 years, and this is the right opportunity to do so.
“Now that we’re a food processor as well as an agricultural company, malting serves a fundamental purpose, it’s a natural fit,” he said in an interview.
Additionally, Vossen said Richardson will buy European barley for its malting facilities. He also remarked that Richardson will take some time to understand the specifics of malting before deciding whether to expand the business.
“As proponents of innovation, Richardson’s support will enable us to realize our ambitions for new ingredients and open new avenues for our business,” said Stuart Sands, CEO of Anglia Maltings.
Sands added that by leveraging its operational expertise, the company will continue to offer best-in-class, whether it be through the delivery of the highest quality food ingredients or outstanding service to our valued customer base.
“We share common values with Anglia Maltings, and we are aligned in our commitment to operational excellence and exceptional customer service,” Curt Vossen commented.
Richardson’s latest announcement follows a series of significant investment initiatives in recent years. In 2021, the company executed substantial capital investments in oilseed and milling processing facilities in North America and Europe. That same year, the company acquired Italgrani USA, North America’s largest durum miller, and supplier of semolina flours to international pasta markets.