A French company is purchasing 15 malt barley facilities from Cargill. The purchase includes Prairie Malt, located in Biggar, Sask. The two companies, Cargill and Axéréal’s malt subsidiary, Boortmalt, entered into an agreement expanding Boortmalt’s global economic footprint. In a news release, Cargill states existing clients should also see further opportunities for growth as a result of the purchase.
The sale is still subject to regulatory approval and consultation with the appropriate employee representative bodies. If all goes well, the transaction is expected to close in the second half of 2019.
The deal includes 15 facilities on four continents and more than 500 people. Boortmalt is one of the world’s leading maltsters with a long-term commitment to the malting industry, the company says.