Dalby-based seed and grain company, Associated Grain, has announced announce the sale of the business to Agrocorp International.
Agrocorp International is a global agri-commodity trading business, founded in Singapore in 1990.
Since its beginning, Agrocorp has grown substantially with offices in 14 countries including Canada, China, Turkey, India, Ivory Coast, Myanmar, and now Australia. It sees an annual trade volume of 9 million tonnes across commodities such as grains, pulses, sugar, oilseeds, cashews and cotton as well as trading revenues upwards of 3 billion USD. In pulses, Agrocorp is one of the world’s leading buyers with more than 1.5 million tonnes traded in 2016.
Agrocorp started its processing business in 2012 and currently owns and operates four pulse and wheat processing facilities in Canada, and has just opened a rice mill in Myanmar. Further plant builds are planned over the next year in Canada, India and Bangladesh.
A statement issued announcing the decision said Agrocorp has made a significant commitment to new infrastructure at the Associated Grain, including an additional 2400 mt of storage capacity at the Warrego site, and several other projects are planned.
“With the addition of the Associated Grain business, Agrocorp will now bring international markets directly to Australian growers,” the statement said.
“This will further enhance opportunities for farmers in Queensland and NSW, providing a strong direct link into the primary markets of the Indian sub-continent. Agrocorp has historically been one of the largest buyers of Australian chickpeas and this acquisition will give direct access to the end users of their products as well as the ability to supply timely and high quality market information”.
In the same statement Associated Grain confirmed that Todd Jorgensen will stay on in the business as CEO.
“Todd brings a wealth of experience and knowledge to the Agrocorp team having managed Associated Grain for the last 20 years.
“Key staff at Associated Grain, including Shane Mathieson, Mark Schmidt, Jacquie Borham, and now Patrick O’Hara, will continue to work on the grains team, and Geoff Birch and his team will continue to operate the seeds business.
“Crucial attributes of the Associated Grain business model, such as quality service and prompt payment, will be maintained as an integral part of the operation.”
Associated Grain recently celebrated 60 years in business and said the partnership with Agrocorp secured a bright future for the company’s staff, customers and growers.
Source: Associated Grain