ETG Commodities is expanding into Manitoba’s edible bean market with the acquisition of Globeways Canada’s bean processing facility in Plum Coulee.
The deal, announced March 15, comes after Globeways Canada, and its subsidiaries Canpulse Food Ltd. at Kindersley, Saskatchewan and Global Grain Canada Ltd. at Plum Coulee, entered into receivership in November 2020.
“The Plum Coulee facility will support ETG North America’s growth and leadership in the rapidly expanding market for dry edible beans,” says Rav Kapoor, CEO of ETG North America. “The acquisition further strengthens ETG as a global leader in pulse and specialty crops processing and bolsters the company’s processing capacity for dry edible beans to facilitate added growth in its key markets.”
ETG has been involved in the pulse crop market in Canada for nearly a decade, mainly purchasing lentils and peas through facilities in Saskatchewan at Swift Current, North Battleford, Success, and Cut Knife. Some of those assets were acquired through the dispersal of former pulse processor Ilta Grain in 2019.
The Plum Coulee plant, which was built and operated under local ownership before the sale to Globeways in 2017, is capable of sourcing and processing a wide variety of edible beans, including pintos, black beans, navies, great northerns, white kidneys, light red kidneys, dark red kidneys, and cranberry beans. ETG has already listed pricing for both old and new crop.
ETG Commodities is the North American subsidiary of Tanzania, Africa-based agricultural conglomerate Export Trading Group. It was founded in Kenya in 1967.
Financial terms of the ETG acquisition have not been disclosed.