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RUSSIA- Cargill, a leading global player in the agriculture and food industry, has finalized a deal to divest its stake in a Russian grain terminal situated on the Black Sea to Russia’s Delo Group, a prominent transport and logistics entity. Confirming the sale, Cargill stated, “In line with Cargill’s earlier announcement to stop the export of Russian grain in July…
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CÔTE D’IVOIRE- Touton Négoce Côte d’Ivoire, a leading cocoa trading company, has sold its subsidiaries SAO and TCI to PALMCI, a subsidiary of SIFCA and the first producer of crude palm oil in Côte d’Ivoire. The sale will give SIFCA and its subsidiary PALMCI control of palm oil plantations in Abengourou, Zabeza, and Soubre, further extending its palm oil production…
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CHINA- Global agribusiness and commodities trading giant Cargill recently announced that it is selling its poultry business in China to private equity firm DCP Capital, citing an increasingly challenging business environment for foreign players in the Chinese meat market. The divested unit is known as Cargill Protein China, and it started operating in the Asian superpower in 2011, breeding, raising,…
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USA- General Mills has announced plans to close down the Blue Buffalo pet food manufacturing plant in Independence, Iowa, by the end of this year, potentially putting more than 200 jobs in jeopardy. According to the recent press release, the milling giant acknowledged that it was a difficult decision and insisted that the changes were in direct support of its…
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USA- Perdue AgriBusiness has agreed to divest its Lothian, Maryland elevator to Anne Arundel County for US$1.25 million and the parties will have 90 days from the signing of the contract, announced on March 21, to close the deal. An independent operating company of Perdue Farms Inc., Perdue AgriBusiness is a merchandiser, processor, and exporter of agricultural products, serving markets…
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BRAZIL- The owner of the Purina pet food brand, Nestle, has denied recent unsubstantiated claims that it tabled 1.7bn reais (US$330.1m) for the purchase of Brazillian BRF pet-food assets. A month ago, on February 28, 2023, BRF said in a stock-exchange announcement that it had hired Banco Santander as a financial advisor and was in early-stage discussions with would-be buyers…
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BRAZIL- According to a stock-exchange announcement on 28th February, Brazilian meat processor, BRF, plans to sell its pet-food business after registering a US$114.7 mln net loss in the fourth quarter. BRF, the result of the 2009 merger between Brazillian Sadia and Perdigão, announced that it had hired Banco Santander as a financial advisor for the sale of the pet food…
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