Canadian grain company Viterra is planning to bolster its processing capabilities with the acquisition of Twin Rivers Technologies Holdings Entreprises De Transformation De Graines Oléagineuses Du Québec (TRT-ETGO) oilseed processing plant in Canada.
The acquisition includes a canola and soybean crushing and refining plant in Bécancour, Quebec.
Subject to regulatory approvals and other customary closing conditions, the transaction is expected to be completed this year.
TRT-ETGO has a crushing capacity of 1.05 million metric tons annually. It produces vegetable oil for food and industrial markets, as well as meal for the livestock industry.
Viterra North America president and CEO Kyle Jeworski said: "This is a good strategic fit for Viterra that will allow us to connect our farm customers to more marketing opportunities, further leveraging our origination capabilities through our industry leading asset network.
"We're excited by the opportunities that will be available to us, and with TRT-ETGO being the largest full swing plant in Canada, we will have the ability to optimize our output by crushing canola or soybeans depending on market conditions and end user needs."
