Richardson takes control of Viterra assets
$800M in acquisitions grow the company in Canada and U.S.
REGINA — Richardson International Ltd. has officially taken over more than $800 million worth of Viterra assets from Glencore International, part of an agreement announced in March 2012, which saw Regina-based Viterra acquired by Swiss-based commodities giant Glencore for $6.1 billion.
Richardson has acquired 19 country elevators and 13 crop input centres located with those elevators formerly owned and operated by Viterra. These facilities will complement the Richardson Pioneer network of grain handling and crop input facilities across Western Canada.
Richardson has also acquired a Viterra terminal in Thunder Bay, Ont., which will increase capacity and enhance the company’s operations at that port.
Curt Vossen, president and CEO of Richardson International, said the acquisition marks an important milestone in the history of the private company, which is celebrating its 100th anniversary in 2013.
“Through this acquisition, we are growing our business substantially, both in terms of assets and people,” Vossen said in a news release. “By increasing our presence in many communities across Western Canada, we look forward to enhancing our ability to serve customers in new and existing markets.”
Richardson has also acquired Viterra’s milling business, including oat processing plants in Portage la Prairie, Man., Martensville and Barrhead, Alta.
The company also acquired an oat processing plant in South Sioux City, Neb., and a wheat mill in Dawn, Texas, which will now operate as Richardson Milling.
“The oats processing business also provides us with an opportunity to establish a presence in the U.S., which will increase our profile and enhance our ability to meet the needs of the global marketplace,” Vossen said.
Richardson International is Canada’s largest agribusiness, a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds and a vertically integrated processor and manufacturer of canola-based products. Based in Winnipeg, Richardson has more than 2,300 employees across Canada.