Richardson International Ltd has closed its previously announced agreement to acquire more than $800 million worth of Viterra assets from Glencore.
Richardson has acquired 19 country elevators and 13 crop input centres co-located with those elevators formerly owned and operated by Viterra, the company said in a news release.
It has also acquired a Viterra terminal in Thunder Bay, which will increase capacity and enhance the company’s operations through that port. The transfer of other assets acquired by Richardson pursuant to the purchase agreement will be finalized in the near future.
It also bought Viterra’s milling business that includes oat processing plants in Portage la Prairie, Man., Martensville, Sask. and Barrhead, Alta., as well as an oat processing plant in South Sioux City, Neb. and a wheat mill in Dawn, Texas. These businesses will now operate as Richardson Milling.
The deal is part of the complex deal announced last year when Glencore bought Viterra for $6.1 billion and then agreed to sell a number of Viterra assets to Richardson and Agrium Inc.
