Canadian grain handler Richardson International Limited said on this morning that it has agreed to buy Italgrani USA, North America’s largest durum miller, as it increases its food -processing operations.
Italgrani’s assets include a mill in St. Louis, Missouri specializing in semolina and durumflour, storage and crop input facilities in North Dakota and a commodity trading office in Minneapolis, Minnesota.
Winnipeg, Manitoba-based Richardson, a private company, did not disclose the deal value.
The U.S. acquisition is a step toward Richardson’s goals to expand geographically and its food-processing operations, which include canola crushing and oat milling, Chief Executive Curt Vossen said.
Rabobank is serving as Richardson’s financial advisor, while Rothschild & Co is financial advisor for Italgrani.
Sourced by Reuters
