Two of the world’s largest agribusiness companies are expanding.
Bunge North America, the North American arm of Bunge Ltd., has agreed to buy Mexican wheat miller Grupo Altex, one of that country’s leading wheat millers.
Grupo Altex operates six mills with an annual processing capacity of 800,000 tonnes.
Financial terms of the deal were not disclosed, but Bunge officials said the deal is expected to close by the end of the year, subject to regulatory approval.
Bunge Ltd. operates in more than 40 countries and employs 35,000 people.
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It buys, sells, stores, processes and transports oilseeds, cereal grains, sugar, corn and rice for use in food, feed and biofuel production.
The company’s North American operations include canola collection and processing facilities in Western Canada.
Meanwhile, Global commodities trader Louis Dreyfus Commodities announced Oct. 17 that it has entered a joint venture agreement with Brooklyn Kiev LLC to open a 240,000 tonne multi-commodity terminal in Ukraine.
Louis Dreyfus already ships from the Black Sea region, which accounts for one-quarter of global wheat volumes.
The new terminal will help Dreyfus compete with rivals, including Bunge and Glencore, which also own terminals in the region.
Last year, Glencore bought a 50 percent stake in a Russian export terminal.
Glencore also owns Viterra, which operates an extensive network of grain collection and export facilities in Western Canada and eastern Australia.
Dreyfus said the new terminal, located in Odessa, will be completed by next August and handle corn, wheat, barley and oilseeds for export to Europe, Africa and the Middle East.
