Consolidated Grain and Barge Co. (CGB) has acquired four facilities located in the heart of the Mississippi Delta from The Scoular Company of Omaha, NE. Consolidated Grain and Barge Co. is a wholly owned subsidiary of CGB Enterprises Inc., with headquarters just outside New Orleans, LA.
These facilities are a natural extension of CGB’s existing grain origination network further in the deep south. The acquisition includes three river terminals with six million bushels of grain storage capacity.
“CGB is excited to further expand its grain origination network in the Mississippi Delta, and we look forward to operating these assets in conjunction with our other regional facilities,” said Greg Beck, senior vice president, Grain Division. “CGB prides itself on providing a high level of customer service, and we will diligently serve this extended customer base through keen attention to detail, paired with expertly developed risk management tools.”
Scoular’s CEO Paul Maass said, “We are pleased that CGB will be continuing the high level of service that our customers have come to expect,” and further noted that the two companies would be working closely to ensure a smooth transition.
Maass added that the company’s decision to exit its Delta operations was the result of Scoular’s strategic review. “We continually review our businesses to ensure that they are well-positioned to meet our customers’ needs and that they align with our company’s long-term strategic goals. Although we’ve determined that these facilities are better positioned with CGB’s network, we greatly appreciate the contributions of our Delta employees and wish them success.”
The terminals acquired by CGB are located in Helena, AR; Old Town, AR; and Friars Point, MS. Terms of the transaction were not announced.
