Zen-Noh Grain Corp. (ZGC) has closed on its acquisition of approved assets from Bunge.
Originally announced in spring 2020, the initial agreement between ZGC and Bunge included 35 operating assets.
To help secure regulatory approval, certain Bunge assets and Consolidated Grain and Barge Co., ZGC’s affiliate, assets were selected for divestiture and sold to Viserion Grain, LLC.
The facilities ultimately required by the Department of Justice to be divested were adjusted slightly from the list published this past spring.
The Bunge assets divested include Shawneetown, IL; Huffman, AR; Osceola, AR (Riverside and Landside); Helena, AR; Lake Providence, LA; Caruthersville, MO; McGregor, IA; and Lettsworth, LA.
The divested Consolidated Grain and Barge Co. asset is its Savanna, IL facility.
“This is an exciting day for the team," says Greg Beck, senior vice president, CGB Enterprises, Inc. "Our commitment to agriculture began over 50 years ago, and we’ve grown into a diverse, inclusive, innovative organization committed to connecting farmers with domestic and international opportunities for their production.
"We are eager to welcome our new employees and to serve producers and community members in these new and expanded markets,”
About Zen-Noh Grain Corp.
Zen-Noh Grain Corporation is the U.S. subsidiary of the National Federation of Agricultural Cooperative Associations of Japan, Zen-Noh.
About CGB Enterprises Inc.
CGB Enterprises Inc. is headquartered in Covington, LA, and thru its wholly owned subsidiary, Consolidated Grain and Barge Co., operates a vast network of grain facilities across the Midwest.
About Viserion Grain, LLC
Viserion Grain, LLC is a new entity supported by management with strong experience in the grain industry. It is owned by Viserion International Holdco, LLC, a Colorado-based global agricultural merchant formed with the financial backing of Pinnacle Asset Management, L.P. (Pinnacle).
About Bunge Limited
Bunge states its purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world.