MINNEAPOLIS, MINNESOTA, US — Cargill announced it is acquiring Agrex, Inc.’s stake in Dakota Plains Ag Center, LLC with plans to operate two locations and sell three others.
“Cargill has agreed to acquire Agrex, Inc.’s interest in the Dakota Plains Agri Center — a joint venture between Agrex, Inc. and Cargill, located in South Dakota,” said Bridget Christenson, media relations director of global ag, tech and trading for Cargill. “At close, Cargill will fully transition Dakota Plains into Cargill’s operations.”
Financial terms of the acquisition were not disclosed. Christenson said existing contracts will be honored, but Cargill will not keep all the locations.
“All existing Dakota Plains grain contracts remain in force and will be transitioned to Cargill,” she said. “At close, Cargill will operate facilities at Beardsley and Napa with plans to sell the facilities in Parkston, Scotland and Tripp.”
Cargill and Agrex, a full-service agricultural commodities trading company based in Overland Park, Kansas, US, entered the joint venture for Dakota Plains Agri Center in July 2013. Beardsley and Napa are shuttle loader facilities both served by BNSF in the southeast corner of the state.
The Beardsley and Napa locations are expected to resume receiving grain May 18, according to the Dakota Plains Ag Center website, which directs visitors to cargillag.com for additional information.