REGINA, SASKATCHEWAN, CANADA — Viterra signed a purchase agreement to acquire the assets of Ilta Grain Inc.’s processing facility in Belle Plaine, Saskatchewan, Canada.
“We are pleased to be working toward integrating this high-quality facility into our industry leading grain asset network,” said Kyle Jeworski, Viterra’s president and chief executive officer for North America. “We firmly believe that our operational and logistical expertise, combined with our focus on superior service and unrivalled market insight, will allow us to bring this facility to its full potential for the benefit of our customers.”
The purchase agreement is subject to customary closing conditions, including court approval at a hearing scheduled for Aug. 23. If these conditions are met, the transaction is expected to close on Aug. 27.
The facility can handle a wide range of pulses and other commodities, and provides added value through cleaning and conveyor equipment to prepare and ship crops for export. It has multiple logistics capabilities, including container, bagged, intermodal, truck and bulk rail shipments. Completed in the fall of 2017, it has a storage capacity of 22,000 tonnes, along with a 135-railcar loop track.
Employees at the facility will be offered the opportunity to join Viterra’s team.
According to Sosland Publishing Company’s 2019 Grain & Milling Annual, Viterra has 84 grain storage facilities with 118.101 million tonnes of totaled licensed capacity.