The parties expect to the close the transaction within 30-45 days. Terms of the transaction were not disclosed.
“We are looking forward to being a part of the CGB team,” said WBJ’s Chief Executive Officer (CEO) Butch Meibergen. “WBJ prides itself in providing producers with services they need, and we look forward to offering even more resources in the future through CGB’s global network.”
WBJ’s President Joey Meibergen said, “This exciting combination brings together the forward thinking regional leadership and 120-year history of WBJ with the entrepreneurial CGB expertise and infrastructure, thereby strengthening the position of the company and ultimately resulting in greater efficiencies and a higher level of service for the WBJ customer base.
“Butch and I look forward to joining the CGB team, and achieving our growth goals together.”
CGB’s President and CEO Kevin Adams said, “We are excited about the WBJ group of businesses and employees joining the CGB team. The Meibergen family has successfully grown and nurtured the WBJ business over its long history and we believe they complement our growing CGB group of businesses. Our staff plans to work closely with WBJ’s customers, suppliers, and employees to make the integration process as seamless as possible.”
WBJ, currently operates 19 country grain elevators throughout Oklahoma and Texas including two grain terminals, an 18 million bushel rail terminal in Enid, Oklahoma, U.S., and a 2-million-bushel rail shipper/receiver facility in Shattuck, Oklahoma, U.S. Operations include grain, retail fertilizer, seed, and bulk transfer of frac sand and petroleum.
CGB, with 74 grain elevators across the Midwest, oversees a diverse family of businesses providing an array of services for producers and manufacturing industries. Their businesses include: grain handling and merchandising, soybean processing, crop insurance, fertilizer, agri-finance, feed ingredients, bulk handling and stevedoring, and transportation and logistics services for a global base of customers.