ST. LOUIS, MISSOURI, U.S. — EGT, LLC, a joint venture between Bunge North America and ITOCHU, has purchased a grain elevator in Sidney, Montana, U.S., from Busch Agricultural Resources, LLC, a division of A-B InBev, N.V.
Financial terms of the acquisition were not disclosed.
“Purchasing the Sidney elevator strengthens our origination capability in support of our export terminal in Longview, Washington,” said Adam Johnson, president and chief executive officer of EGT. “The facility is located in a key draw area for wheat, particularly spring wheat, which is experiencing increasing demand.”
The Sidney elevator has access to the Burlington Northern Sante Fe railroad, which serves the Longview terminal. It also can handle inbound and outbound trucks. The facility complements EGT’s other elevators in Chester, Kintyre Flats and Tunis, Montana.
“We are excited to be in the Sidney area and have plans to begin expanding the facility’s speed and capabilities immediately,” Johnson said. “We look forward to providing growers efficient service from day one.”
The facility was built in 2003 and has 1.4 million bushels of storage. Subject to normal hiring procedures, EGT intends to keep the employees.
Bunge North America, Inc., has a total of 63 grain storage facilities with a total licensed capacity of 170.144 million bushels, according to Sosland Publishing’s 2018 Grain & Milling Annual.