Agrocorp Acquires Associated Grain
Agrocorp International, a Singapore based agricultural commodities trading and processing firm, is happy to announce the acquisition of Associated Grain, a leading Australian processor of pulses and seeds.
Associated Grain was one of the largest independently owned pulses processors in Australia and is based out of Dalby, Queensland. It is operational out of 4 plants in the vicinity of Dalby with a cumulative storage capacity of 25,000 metric tons and an ability to handle 200,000 tons a year. Its product portfolio includes pulses such as chickpea, mung bean and faba beans as well as cereals like wheat and barley. It also has a Chanadal production plant and a growing seeds processing and distribution business.
Agrocorp completed the acquisition as part of its twin strategy to expand its processing business and access more of the value chain, as well to consolidate its leadership in the pulses industry. Global interest in cultivating and consuming pulses is fast growing with the UN having declared 2016 to be the international year of Pulses. Pulses are the edible seeds of plants in the legume family and includes products such as chickpea, dry pea, pigeon pea, lentils and mung bean. Most of these are staple foods in South Asian diets, but consumption has been on the rise in other regions as well in which pulses are seen as a healthy and affordable source of protein and fibers, often as an alternative to meat and dairy.
Associated Grain’s operations will complement Agrocorp in allowing it to procure grains directly from the farmers as well as supply them with seed ahead of the planting season. Agrocorp first entered the processing business via the launch of its subsidiary in Canada, Agrocorp Processing in 2012. Agrocorp Processing has since grown to owning and operating four pulse and wheat processing facilities in Canada as well as opening a rice mill in Myanmar in May this year. Further plant builds are planned over the next year in Canada, India and Bangladesh.
As part of the acquisition, Agrocorp has committed to new infrastructure with an additional 2400mt of silo storage capacity being built. It has also committed to R&D projects to develop new seed varieties in collaboration with a research institute in Queensland.
Agrocorp will be retaining the current management of the Associated Grain as well as all 53 of its staff. With this acquisition Agrocorp’s global staff pool now crosses 300.
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