Cargill has agreed to sell two oilseed processing plants and businesses in the Netherlands and France to Bunge for an undisclosed sum, the companies announced on 5 August.
In the Netherlands, the deal includes Cargill’s soyabean and rapeseed crush and soya oil refining facility in the Port of Amsterdam, as well as part of its bulk port terminal assets dedicated to supporting discharge and storage of raw materials for the crush plant.
In France, it includes the soyabean and rapeseed crush facility located in the Port of Brest.
“The total processing capacity at the two locations is approximately 2M tonnes/year,” the companies said.
“The assets are highly complementary to Bunge’s existing soya processing operations in Europe, and will allow Bunge to further expand into key northern European destinations, grow its presence in Europe’s protein market, and further optimise global flows and logistics.”
Cargill would retain its two other soyabean processing facilities in western Europe, in the ports of Barcelona, Spain and Liverpool in the UK.
Cargill said these plants were firmly integrated with a number of its other businesses serving local customers in the food and feed sectors in Spain and the UK.
The deal is subject to competition clearance and employee consultation.
Cargill has been reshaping its operations over the past year, agreeing to sell its farm retail business to Calgary-based fertiliser group Agrium in July (see News, OFI July/August 2016) and exiting businesses such as steelmaking, hedge funds, US pork production and dressings and sauces, according to the Financial Times.
In July, Bunge also announced a crushing joint venture in Vietnam with leading Asian agribusiness group Wilmar (see News, OFI July/August 2016) and the expansion of its logistics partnership with agricultural trader and producer Amaggi in Brazil.