AXEREAL, France’s largest grain cooperative, today announced the acquisition of CARGILL’s malt business on behalf of its subsidiary, BOORTMALT.
Jean-François Loiseau, President of the AXEREAL Group said: “This acquisition meets our two strategic objectives. Firstly, to invest in the downstream of barley to increase the value of our farmers production in France and internationally, and especially in growing markets.
“Secondly, we have a long-term vision for our cooperative farmers. This acquisition will help ensure that our trajectory is competitive. We at Axereal are leading the way for the agricultural transition with industrial innovation that provides quality food whilst respecting the environment.”
Paul-Yves L’Anthoën, Chief Executive Officer of the AXEREAL Group declared: “This acquisition is a major step in our cooperative’s strategic plan: it allows us to diversify our sources of value, and it bolsters the group’s position in a growing sector. It also strengthens our relationship with the financial community.”
This acquisition sees BOORTMALT taking over all CARGILL Malt activities: 16 malthouses in nine countries, nearly 600 employees, and with a total production capacity of 1.7 million tonnes.