Viterra has announced its intent to acquire the largest oilseed processing plant in Eastern Canada. The Regina-based grain company has signed a purchase agreement with Twin Rivers Technologies Entreprises De Transformation De Graines Oléagineuses Du Québec Inc. (TRT-ETGO), the owner of a 1.05 million metric tonne per year canola and soybean crushing and refining facility in Bécancour, Quebec.
“This is a good strategic fit for Viterra that will allow us to connect our farm customers to more marketing opportunities, further leveraging our origination capabilities through our industry leading asset network,” said Kyle Jeworski, Viterra’s president and CEO for North America. “We’re excited by the opportunities that will be available to us, and with TRT-ETGO being the largest full swing plant in Canada, we will have the ability to optimize our output by crushing canola or soybeans depending on market conditions and end user needs.”
TRT-ETGO is owned by FELDA Global Ventures Holdings, the world’s largest producer of crude palm oil and a subsidiary of the Federal Land Development Authority of Malaysia. According to a news release from FELDA, the deal is worth approximately C$190 million.
The plant, which opened in 2010, has a crush capacity of 3,000 metric tonnes and refining capacity of 1,200 metric tonnes per day. It’s located on the St. Lawrence Seaway, with the ability to receive and ship by truck, rail, and vessel, and near Viterra’s port facility at Montreal.
The deal is expected to close before the end of this year.