Cargill to acquire Hungarian peer Agrograin
Cargill has started the process of finalising 100% ownership in Hungary’s largest grain trading firm Agrograin.
Cargill already owned 35% of Agrograin and will now
acquire the remaining 65% from the Hungarian company’s management.
acquire the remaining 65% from the Hungarian company’s management.
Cargill expects the acquisition to help it strengthen its positions in
Central and Eastern Europe by providing a competitive supply of raw materials to
the company’s grain, oilseed and starch plants in the region. “Hungary plays an
important role as a significant grain and oilseed exporter and the country’s
surplus is expected to grow in the years ahead,” Rod Sanderson, Cargill’s
representative at Agrograin, said.
The US company also acquired the
Agribrands animal feed business in Hungary in 2001, which serves customers
nationwide in the commercial dairy, pork and poultry sectors.
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