News last update:6 Aug 2012

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.

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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