GrainCorp Limited has agreed to sell its joint venture GrainsConnect Canada to Parrish & Heimbecker, Limited, following a strategic review prompted by challenging financial performance. The sale, valued at C$150 million on a cash-free, debt-free basis, is expected to complete in the first half of 2026 and will include an additional cash payment for net working capital at closing.
GrainCorp’s Managing Director and CEO, Robert Spurway, said the divestment reflects the company’s commitment to portfolio optimization and readiness to rationalize assets to improve returns. The transaction will not affect GrainCorp’s through-the-cycle EBITDA of A$320 million. GrainCorp will retain its Canadian marketing offices in Winnipeg to continue supporting customers and providing market intelligence.
In a trading update, GrainCorp reported that the 2025-26 winter crop harvest is mostly complete in Queensland and northern New South Wales, though weather disruptions persist in southern New South Wales and Victoria. The company expects FY26 receival volumes to decline to between 11.0 and 12.0 million tonnes, down from 13.3 million tonnes in FY25, due to a smaller East Coast Australia crop and prevailing commodity prices.
GrainCorp is focusing on cost management while maintaining customer service and reliability. The company will provide earnings guidance at its Annual General Meeting on February 18, 2026.
