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NETHERLANDS- Viterra’s revenue reached US$28 billion in the first half of 2023, up 18% from US$24.3 billion recorded in the first half of last year, mostly driven by record sales volumes and the completed acquisition of Gavilon. In its financial report, released on 13th September, Viterra said that the earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first…
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USA- Bunge Limited has finally entered into a definitive agreement with Viterra Limited in a stock and cash transaction, creating a merger that will create an formidable global agribusiness company, well-positioned to meet the demands of increasingly complex markets and better serve farmers and end-customers. The merger is likely to close in mid-2024, subject to the satisfaction of customary closing…
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CANADA- Two pension funds, Canada Pension Plan Investment Board and British Columbia Investment Management Corp, have declared their support of the potential Viterra-Bunge merger, according to people with direct knowledge of the matter, Bloomberg reported. The possible merger would create a US$25 billion behemoth that will be one of the largest global commodity traders. According to the anonymous source, these…
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USA – Glencore-owned global grain trader Viterra is in talks concerning a possible merger with U.S. rival Bunge Ltd- a strategic move that will potentially form one of the most formidable international grain merchants, Reuters reported, quoting people familiar with the matter. These talks come a while after Glencore had publicly said it was reviewing options for its interest in…
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USA- Rotterdam-based grain elevator Viterra recently announced that it will expand its grain and ingredient terminal in Etter, Texas, US, increasing storage capacity at the terminal by more than 40,000 tonnes by late 2024. Viterra handles more than 100 million metric tonnes of agricultural products annually across its business units, including grains, oilseeds, pulses, rice, sugar, and vegetable oil, as…
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RUSSIA- Viterra Ltd. is exiting the origination and export market in Russia, a day after Cargill announced its exit from the same market. “Following continued monitoring of the situation over the past year, Viterra has concluded that its activities in Russia no longer fit the long-term direction of the company,” Viterra said. Reuters reported that Nikolai Demyanov, the head of…
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NETHERLANDS- Viterra experienced its most successful year on record in 2022, partly due to favorable market conditions, record production in major export regions, and completing its acquisition of Gavilon. Gavilon recently rebranded to Viterra after its acquisition by the Rotterdam-based grain handler in 2022. With the acquisition of Gavilon, headquarters in Omaha, Nebraska, US, Viterra added 110 up-country sites in…
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USA- Gavilon has finally rebranded as Viterra across its business in the United States and Mexico, following Viterra Ltd.’s purchase of the grains origination and storage and food ingredients business of Gavilon Agriculture Investment Inc. in 2022. Gavilon has been storing and distributing grains, oilseeds, and feed and food ingredients, to domestic and global markets, and will now be doing…
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