Fraser Grain Terminal is located on Vancouver Fraser Port Authority land in Surrey, British Columbia, and has an annual throughout capacity of 3.5 million tonnes. Photo: GrainCorp

PARRISH & Heimbecker, Limited will expand its local footprint by buying GrainsConnect Canada (GCC) from its joint owners GrainCorp and Japan’s Zen-Noh Grain Corporation.

This will make P&H the full rather than half owner of the Fraser Grain Terminal in Vancouver, and will add the GrainsConnect elevators at Reford and Maymont in Saskatchewan and Huxley and Vegreville in Alberta to the P&H portfolio.

P&H is a family-owned agribusiness dating back to 1909, and in late 2018 it announced plans to build the Fraser Grain Terminal, ahead of GrainCorp in January 2019 announcing its buy-in with Zen-Noh. 

“The transfer of these high-quality assets to P&H, an organisation with deep roots in western Canadian agriculture, will support stability and ongoing investment for growers, customers and employees,” GrainCorp said in a statement issued last month.

“P&H has a longstanding partnership with GCC and its shareholders through Fraser Grain Terminal and welcomes the acquisition as a natural next step in strengthening its service offering to Canadian growers.”

Subject to approvals, the transaction is expected to close early this year.

“Until that time, operations will continue as usual, with a strong focus on safety, service and supporting employees and growers through the transition.”

P&H assets in Canada include seven export terminals, seven flour mills, five animal- feed mills, and more than 40 agricultural merchandising sites.

“P&H is proud to continue strengthening our footprint in Canadian agriculture, and this acquisition represents a natural evolution of our long-standing partnership with GrainsConnect Canada,” P&H chief executive officer John Heimbecker said in the GrainCorp statement released last month.

“We have great respect for the quality of GCC’s facilities and the people who run them, and we look forward to building on that foundation.

“Being entrusted with the next stage of growth is a responsibility we take seriously, and we’re committed to ensuring growers continue to have competitive, reliable pathways to market.”

Source: GrainCorp