Agricoltura
Viterra Limited to acquire Gavilon
Gavilon is based in Omaha, Nebraska , USA and originates, stores and distributes grains, oilseeds, as well as feed and food ingredients, to food manufacturers, livestock producers, poultry processors, soybean processors and ethanol producers worldwide.
Gavilon's leading asset network is located in key growing areas across the United States , with access to major railroads, rivers and ports. It also has international operations in Mexico , South America , Europe and Asia , along with an indirect minority ownership interest in two port terminals located in Kalama, Washington Portland, Oregon .
"The addition of Gavilon supports our long-term strategy of significantly increasing our presence in the United States , one of the major producing and exporting regions, which will further strengthen our global network," said David Mattiske , Chief Executive Officer of Viterra Limited. "The combination of the Gavilon and Viterra origination businesses will enable us to provide more value and flexibility to our customers. We will be able to rapidly enhance our sustainable supply chains, provide higher levels of quality control and reliability, while creating exciting opportunities for our customers and employees."
"We look forward to welcoming the employees of Gavilon to the Viterra team, and further strengthening the successful business and commercial relationships Gavilon has built with producers and consumers."
Peter Mouthaan , Chief Financial Officer at Viterra Limited, said "This transaction demonstrates the continued support of our shareholders to execute on opportunities that deliver significant growth for our business, while maintaining a robust balance sheet."
"Funding for the agreed purchase price and a portion of the assumed working capital has been secured through the signing of a committed acquisition financing facility. Funding for the remainder of the working capital will be financed by using proceeds from other committed financing facilities and cash on hand, including existing available undrawn committed credit lines amounting to approximately US $3.6 billion as of 31 December 2021 ."
The transaction is subject to customary closing and regulatory approvals and is expected to close in the second half of 2022.
At Viterra, we believe in the power of connection. Our world-leading, fully integrated agriculture network connects producers to consumers with sustainable, traceable and quality-controlled agricultural products. With more than 17,500 talented employees operating in 37 countries, our strategic network of agricultural storage, processing and transport assets enable us to offer innovative solutions and open pathways for our customers, creating successful partnerships that last. Together, we are stronger, and achieve more.
IMPORTANT NOTICE CONCERNING THIS RELEASE INCLUDING FORWARD LOOKING STATEMENTS
This release contains, or incorporates by reference, statements that are, or may be deemed to be, "forward-looking statements", which are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current predictions, expectations, beliefs, opinions, plans, objectives, goals, commitments, intentions and projections about future events, results of operations, prospects, financial condition and discussions of strategy. Forward-looking statements can be made in writing but also may be made verbally.
By their nature, forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of Viterra or its subsidiaries. Forward- looking statements are not guarantees of future performance and may, and often do, differ materially from actual results.
Neither Viterra nor its subsidiaries, nor any of their associates, directors, officers, employees or advisers, provides any representation, warranty, assurance or guarantee that the occurrence of any actions, events or results expressed or implied in any forward-looking statements in this release will actually be taken, occur or be achieved. You should not place, and are cautioned against placing, reliance on these forward-looking statements, which only speak as of the date of this release or of the date of the particular statement (as applicable).
Nothing in this release shall, in any jurisdiction, constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities or financial instruments, nor shall it constitute a recommendation or advice in respect of any securities or other financial instruments or any other matter.
Media enquiries: jeff.cockwill@viterra.com, +1 (306) 569-6673
Logo - https://mma.prnewswire.com/media/1734444/Viterra_Inc__Viterra_Limited_to_acquire_Gavilon.jpg