Viterra Acquires 21st Century Grain Processing

June 1, 2010
/ Print / Reprints /
ShareMore
/ Text Size+

Viterra Inc. has signed a definitive agreement to acquire Kansas City, Mo.-based 21st Century Grain Processing for $90.5 million, subject to adjustments for debt, cash and working capital levels at the time of closing. The transaction aligns with Viterra’s integrated business model, and reinforces the mission to leverage its expertise and existing core capabilities to supply its value-added processing operations and strengthen the connections between field and table.

Under the agreement, Viterra’s Canadian milled oats will be sent to 21st Century Grain Processing’s facilities for additional value-added opportunities. 21st Century Grain Processing operates two plants in the central United States, an oat mill in South Sioux City, Neb., and a wheat mill near Amarillo, Texas.

“We are pleased to have reached this agreement with 21st Century Grain Processing, which has established an excellent reputation in the industry for providing healthy, high quality, grain-based food ingredients,” says Karl Gerrand, senior vice president, processing for Viterra. “Its operational focus aligns well with our processing segment, creating opportunities to better serve our customers by optimizing our logistics and realizing production efficiencies. Further, it will position our company to better compete in this industry and meet the continued growth in demand for healthy food products in North America.”

“We are very excited to have this opportunity to bring together the operational capabilities and product offerings of our two companies,” adds Lynn Rundle, chief executive officer for 21st Century Grain Processing. “With Viterra’s strengths and commitment to our industry, this transaction will position us well to continue our growth and success over the long term.”

The transaction is conditioned upon expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions.

Did you enjoy this article? Click here to subscribe to Snack Food & Wholesale Bakery Magazine 

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

New chips off the old block

Here’s our tour of potato chip producer, Ballreich Bros., our 2014 Snack Food Manufacturer of the Year. 

5/1/13 8:00 am EST

Food Safety Summit Conference & Expo - Live Webinar Sessions

The Food Safety Summit offers the opportunity to attend and participate in these selected sessions remotely by registering and joining in LIVE from your computer.

THE MAGAZINE

Snack Food & Wholesale Bakery Magazine

Cover Image

2014 April

Come check out the latest edition of Snack Food & Wholesale Bakery! This month's edition features a special look into the family-owned Ballreich Bros. manufacturer in Tiffin, Ohio.

Table Of Contents Subscribe

What’s for breakfast?

What’s your favorite grain-based breakfast food?
View Results Poll Archive

THE SNACK AND BAKERY STORE

organic-production-&-food-q.gif
Organic Production and Food Quality: A Down to Earth Analysis

Effects of Organic Production on Food Quality is the first comprehensive book on how organic production methods influence the safety and quality of foods, based on an unbiased assessment of the latest scientific findings.  The title is a 'must-have' for everyone working within the food industry.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

The Weekly Mix

Operations Weekly Logo

Written by Snack Food & Wholesale Bakery editors, our Operations Weekly weekly enewsletter provides bakers and snack food manufacturers with up-to-the-minute news, ideas and industry trends.

Sign up today!

STAY CONNECTED

Facebook IconTwitter IconYoutube IconLinkedIn Icon