Richardson To Acquire Durum Miller Italgrani USA
Canadian agribusiness Richardson International Limited announced July 8 that its subsidiary, Richardson Oilseed (U.S.) Holdings Limited, has entered into a purchase agreement to acquire Italgrani USA Inc., the largest durum miller in North America.
Richardson said this latest announcement is an extension of a long-term vision to diversify processing operations. Assets to be acquired by Richardson include a milling facility in St. Louis, Mo., specializing in semolina and durum flour products; storage and crop inputs facilities situated at Tolley, Powers Lake, and Benedict in North Dakota; and a commodity trading office in Minneapolis, Minn.
“This acquisition is fully aligned with our long-term strategic goals of diversification, geographic expansion, and an increased presence in food processing—having gone from canola to oats and now to durum processing,” said Curt Vossen, president and CEO of Richardson International. “The significant scale of processing capability of the Italgrani plant, combined with origination opportunities and crop inputs retail facilities, all included in this transaction, will further enhance the services we will be able to offer to our producer customers, both in Canada and the U.S.”
The purchase agreement will close immediately following regulatory approvals. Richardson will own 100 percent of the shares of Italgrani USA. Following successful completion, Richardson will retain the current workforce and looks forward to welcoming these employees to the Richardson group of companies.
“The Italgrani team is pleased to be joining the Richardson International family of companies and looks forward to working together to further grow and expand the Italgrani USA business footprint,” said James Meyer, president of Italgrani USA. “Our two companies are well aligned in that we are both focused on customer service, innovative solutions, and being good stewards of resources.”
Richardson International Limited is Canada’s largest agribusiness and is recognized as a global leader in agriculture and food processing. Based in Winnipeg, Manitoba, the company is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds and a vertically integrated processor and manufacturer of oats and canola-based products.
Over the past two decades, Richardson has become a significant player in the global food business, producing a wide variety of food products and ingredients for the retail, food service, and industrial markets.
Italgrani USA is the largest semolina and durum flour miller in North America, supported by grain elevator services in North Dakota and full-service grain merchandising in Minnesota. Situated along the Mississippi River, its mill and state-of-the-art grain unloading, storage, and barge loading facility are connected to all major railways for efficient distribution year-round. While headquartered in St. Louis, Mo., the Italgrani facilities are strategically located across U.S. farm country.