Global agribusiness giant Cargill has acquired US soyabean processor Owensboro Grain Company.

Family-owned Owensboro Grain Company operates a fully integrated soyabean processing facility in Owensboro, Kentucky, which produces soyabean products, including protein meal and hull pellets for animal feeds, crude and degummed oil, lecithin and a range of refined vegetable oil blends for human consumption, biodiesel, glycerine and industrial waxes.

The acquisition, which was subject to regulatory approval and other customary closing conditions, would enhance Cargill’s efforts to modernise and increase capacity across its North American oilseeds network, the company said on 28 November.

“Our two companies have… similar heritages as grain merchants. Additionally, this is a significant milestone in Cargill’s journey to create a connected and modernised grain experience for our customers,” Leonardo Aguiar, president of Cargill’s North American agricultural supply chain, said.

Approved by the boards of directors of both companies, the deal was expected to close early next year. The terms of the deal were not disclosed.