US farmer-owned co-operative Agtegra Cooperative has finalised its minority stake in EGT, which operates an export grain terminal in the US Pacific Northwest, World Grain wrote.
Following the deal, Agtegra joined global agribusiness giant Bunge and Pan Ocean America, an affiliate of integrated Korean group Harim that imports, produces and distributes protein, as partners in EGT, the 10 November report said.
“Agtegra continues to focus on growth that expands our presence along the supply chain and this acquisition provides balance in our grain portfolio as we push farther down the export value,” Agtegra CEO Jason Klootwyk was quoted as saying.
EGT’s export grain terminal in Longview, Washington, on the Columbia River, handles wheat, corn, soyabeans, soyabean meal and distillers dried grains (DDGs) through barge and rail transport. EGT also operates four high-capacity elevators in Montana.
“We are pleased to add Agtegra as a partner, expanding EGT’s origination capabilities to ensure a… flow of products to the export terminal in Longview,” EGT president Jason Gertken was quoted as saying.
Agtegra Cooperative is owned by over 6,800 farmers and ranchers, predominantly in North Dakota and South Dakota, and has a network of more than 70 locations. According to Sosland Publishing’s 2022 Grain and Milling Annual, Agtegra is the 12th-largest grain storage company in North America with 120.17M bushels of licensed grain storage at 41 facilities.