MANDEVILLE, La. - April 21, 2020 - (Newswire.com)
Zen-Noh Grain Corporation (ZGC), a subsidiary of the National Federation of Agricultural Cooperative Associations of Japan (Zen-Noh), is pleased to announce that it has reached an agreement to acquire 35 operating U.S. grain origination elevators along the Mississippi River from Bunge North America, Inc. (BNA), a subsidiary of Bunge Limited (St Louis, MO). Closing on the transaction is subject to regulatory approval.
ZGC’s affiliate, CGB Enterprises, Inc. (CGB, Covington, LA), will operate the acquired facilities through its wholly-owned subsidiary, Consolidated Grain and Barge Co. CGB currently operates more than 100 grain origination facilities in the U.S. CGB serves a vital role as a direct connection to the U.S. farmer by providing an array of services from buying, storing, selling and shipping crops, to financing and risk management.
ZGC recently expanded its Convent, LA export elevator’s annual capacity. This acquisition contributes to ZGC’s ability to adequately source a stable supply of grains, oilseeds, and feed ingredients for Japan and other destinations by strengthening its origination across a broader footprint in the U.S. Rabo Securities USA, Inc. and The Norinchukin Bank have acted as financial advisors, and Baker McKenzie has acted as legal advisor, to ZGC in this transaction.
About Zen-Noh Grain Corporation
Zen-Noh Grain Corporation is the US Subsidiary of the National Federation of Agricultural Cooperative Associations of Japan, Zen-Noh. ZGC trades and exports corn, soybeans, sorghum, wheat, and byproducts from its state-of-the-art export Elevator located at mile 164 on the Mississippi River in Convent, LA to Japan and other global markets. ZGC also has grain origination interests in Canada and Brazil, and a forage processing business in Pasco, WA. To learn more, visit www.zgcusa.com.
About CGB Enterprises Inc
CGB Enterprises Inc, is headquartered in Covington, LA, and through its wholly-owned subsidiary, Consolidated Grain and Barge Co., operates over 100 grain facilities across the Midwest. In addition to grain facilities, CGB Enterprises, Inc. has dedicated operations in logistics and transportation (CTLC), crop insurance (Diversified Services), agrifinance (AGRIfinancial Services), soybean processing, producer risk management, and other related businesses. For more information on CGB Enterprises, Inc. and its family of businesses, please visit www.cgb.com.
Related Links
CGB Enterprises, Inc. Website
Zen-Noh Grain Corporation Website
Related Files
Final ZGC Press Release 4.21.20.pdf
Press Release Service by Newswire.com
Original Source: Zen-Noh Grain Corporation Announces the Acquisition of Bunge North America's Mississippi River Tributary Grain Origination Assets
