Pinnacle Asset Management, a New York-based alternative asset management firm specializing in global commodities markets, has announced a significant expansion of its portfolio company, Viserion Grain (VGC). The company has successfully acquired four grain elevator assets from Greenfield Grain, located in Parkdale, Arkansas, and Dunn, Crowville, and Lake Providence, Louisiana. The financial terms of the transaction remain undisclosed.
Founded in 2021, VGC is led by a team of experienced professionals dedicated to connecting local agricultural producers with both domestic and international supply chains. The company offers a comprehensive suite of services designed to meet various customer needs, including marketing, transportation, commercial management, and grain storage solutions, spanning from northern Iowa to southern Louisiana along the nation’s inland waterways.
Jason M. Kellman, Managing Partner and Chief Investment Officer of Pinnacle, remarked on the acquisition, stating, “The addition of these strategic assets to VGC's growing portfolio will materially expand the Company's ability to connect local producers to the domestic and international agricultural value chain. It will also position VGC to continue serving its customers' grain storage, transportation, and commercial management needs across the central and southern U.S.”
Tim Gallagher, President of VGC, emphasized the company's commitment to the U.S. agriculture sector, saying, “This acquisition demonstrates our unwavering commitment to the U.S. agriculture industry and to continually enhancing our origination capabilities for our valued customers. Expanding our footprint in the deep south with these grain elevator assets will help VGC to reliably supply high-quality grains to meet the evolving demands of domestic and global agriculture markets.”
Tom Russell, VGC's Southern Region Area Manager, added, “VGC's broad geographic spread, combined with our strong commercial background and expertise managing river assets, provide us a comprehensive view of the market and logistical flexibility that few independent companies can replicate. We are excited to acquire and operate these new assets and look forward to serving our growing base of producers.”
This acquisition marks a significant step for VGC in strengthening its position within the agricultural industry and enhancing its capabilities to meet the needs of farmers and agricultural producers in the region.
