The purchase price for the acquisition is US $1.125 billion, plus working capital, and is subject to certain price adjustments.
Gavilon, headquartered in Omaha, Nebraska, originates, stores and distributes grains and oilseeds, as well as feed and food ingredients to domestic and global markets. Gavilon’s assets are in major growing areas across the US, with access to major railroads, rivers and ports.
“Gavilon’s business has all the key attributes that support our long-term strategic plan, and allows us to provide additional value to our customers at origination and destination,” said David Mattiske, Chief Executive Officer of Viterra Limited. “This acquisition further strengthens our global network by providing us with a material presence in every major exporting region and makes us one of the largest origination businesses in our industry.”
Mattiske further added, “It gives me great pleasure to welcome Gavilon’s employees to the Viterra team. I look forward to a smooth integration as we work together to generate further opportunities for our employees and customers, while creating added value for our shareholders and investors.”
Effective immediately, Viterra will integrate Gavilon into its global network and in early 2023 will implement the Viterra brand across the business.
