MINNEAPOLIS, MINNESOTA, US — Ceres Global Ag Corp., a global agricultural, energy and industrial products merchandizing and supply chain company, announced on Sept. 2 that it has completed its previously announced acquisition of Cargill’s grain elevator and associated assets referred to as “Nicklen Siding,” located in Ridgedale, Saskatchewan.
The acquisition was funded with existing working capital. As part of the transaction, Ceres Global assumed Cargill’s open grain purchase contracts and has retained all Cargill personnel who were employed at the Nicklen Siding facility.
“The completion of the Nicklen Siding acquisition continues the meaningful progress we have made on our goal to add strategic origination capabilities for our core products while also further expanding our geographic footprint in Canada,” said Robert Day, president and chief executive officer at Ceres. “We welcome the talented team from the Nicklen Siding location and sincerely look forward to working together to connect growers in Saskatchewan with Ceres' valued end-use customers.”
Ceres Global is headquartered in Minneapolis and, together with its affiliated companies, operates 13 locations across Saskatchewan, Manitoba, Ontario, and Minnesota. These facilities have an aggregate grain and oilseed storage capacity of approximately 30.8 million bushels.
Ceres Global has a 50% interest in Savage Riverport, LLC, a joint venture with Consolidated Grain and Barge Co., a 50% in Gateway Energy Terminal, a joint venture with Steel Reef Infrastructure Corp., a 25% interest in Stewart Southern Railway Inc., a short-line railway located in southeast Saskatchewan with a range of 130 kilometers, and a 17% interest in Canterra Seed Holdings Ltd, a Canada-based seed development company.