ConAgra Foods and Horizon Milling, a joint venture of Cargill and CHS, have reached an agreement to sell four US flour mills to Miller Milling Co, accelerating their plan to merge their flour mill businesses in North America.
The deal was first announced to public in March 2013, and was expected to close in the latter of 2013. The four mills included in the deal have a combined daily capacity of 62,500cwts, and will be purchased at $215m.
Expected to be completed in May, the transaction is subject to US regulatory approval.
Miller Milling Co is a US-based division of Japan-based Nisshin Flour Milling.
The latest deal is considered to be vital in the creation of a joint venture flour milling company called Ardent Mills, which is estimated to play a major role in the US flour market.
