Corporation Bunge Global SA has finalized agreements to lease out its North American dry corn milling and corn flour business to Grain Craft, one of the largest independent flour producers in the United States. This deal is an integral part of Bunge's strategic asset review and aims to strengthen the company's global value chains by closer collaboration with assets related to its core activities.
This deal involves transferring a number of Bunge's production facilities in the United States and Mexico, giving it greater significance both locally and internationally.
Geographical Location and Scale of Operations
This deal includes the transfer of Bunge facilities in the following cities:
- Danville, Illinois;
- Worthington, Indiana;
- Critt, Nebraska;
- Red Oak, Iowa;
- Muleshoe, Texas;
- Atchison, Kansas;
- Queretaro, Mexico.
These assets are key players in the North American dry corn milling and corn flour processing market.
Plans and Development Strategy
According to a statement by Julio Garros, co-chair of agribusiness at Bunge, a strategic step has been taken towards assets that better align with the company's global development strategy. Selling assets owned by Grain Craft will allow Bunge to optimize its portfolio and strengthen its positions in key sectors important to the company.
The completion of this deal is expected after obtaining the necessary approvals from regulatory bodies and fulfilling standard closing conditions.
