Cargill Purchases Australia’s Largest Malt Producer for $373M

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Cargill, Inc., based out of Minnetonka, MN, is closing on a deal with Glencore Xstrata for its Joe White Maltings unit (which Glencore acquired through a $6.2B takeover of a Canadian grain handler). The deal will cost Cargill a cool $373 million. Cargill already has a portfolio of ten malting plants in markets like North America and Europe, which supply malt to brewers around the world. The Joe White Maltings acquisition is impressive because the unit is Australia’s largest malt producer. Joe White Maltings owns seven malting plants near ideal transportation infrastructure and premium Australian barley farm regions, producing 550,000 metric tons of malt annually. That makes it the largest malt exporter to Asian brewers. Cargill is the largest privately-held company in the US. More info from the WSJ.

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