Commodities trader Cargill has completed the acquisition of Owensboro Grain Company (OGC), a fifth-generation family-owned soybean processing facility and refinery located in Owensboro, Kentucky.
In a statement, Cargill said the addition of the Owensboro Grain Company will enhance Cargill's efforts to increase capacity across its North American oilseeds network to support growing demand for oilseeds driven by food, feed and renewable fuel markets.
OGC currently operates a fully integrated soy processing facility, producing soy products, including protein meal and hull pellets for animal feeds, crude and de-gummed oil, lecithin, various blends of refined vegetable oil for human consumption, biodiesel, glycerin and industrial waxes.
'Significant Milestone'
"Today marks a significant milestone as we welcome Owensboro Grain Company into our Cargill family," said Leonardo Aguiar, president of Cargill's North American agricultural supply chain.
"The addition of Owensboro Grain is an essential step on our journey to creating a connected, resilient and modernised grain experience for our customers and the markets we serve."
Helen Cornell, president and chief executive of OGC said in November, "Cargill has the ability to capitalise on growing opportunities in the industry, such as renewable energy. The acquisition will ensure that Owensboro Grain Company, its employees, farmers, customers and the community are best positioned for the future."
Brian Sikes Named CEO
At the beginning of 2023, Brian Sikes was named the new president and chief executive officer of Cargill. He is the tenth CEO in Cargill's 157-year history.
“Our 160,000 employees across Cargill are the best in the industry,” Sikes said at the time. “Together, we will grow with customers, strengthen our core and thoughtfully target new markets to ensure we are a reliable, sustainable partner for our customers - today and in the future.”
© 2023 European Supermarket Magazine – your source for the latest supply chain news. Article by Robert McHugh. Click subscribe to sign up to ESM: European Supermarket Magazine.
