REGINA, SASKATCHEWAN, CANADA — Viterra announce on Aug. 27 that it has signed a purchase agreement to acquire the shares of Twin Rivers Technologies Holdings Entreprises De Transformation De Graines Oleagineuses Du Quebec Inc. (TRT-ETGO). The acquisition includes a canola and soybean crushing and refining plant located in Becancour, Quebec, Canada.
With a crushing capacity of 1.05 million tonnes per year, TRT-ETGO is the largest oilseed processing plant in Eastern Canada. The plant began operations in 2010 and produces vegetable oil for food and industrial markets, as well as meal for the livestock industry.
"This is a good strategic fit for Viterra that will allow us to connect our farm customers to more marketing opportunities, further leveraging our origination capabilities through our industry leading asset network," said Kyle Jeworski, Viterra's president and chief executive officer for North America. "We're excited by the opportunities that will be available to us, and with TRT-ETGO being the largest full swing plant in Canada, we will have the ability to optimize our output by crushing canola or soybeans depending on market conditions and end user needs."
The plant is ideally located on the St. Lawrence Seaway, with the ability to receive and ship oilseeds by truck, rail, and vessel, and is in close proximity to Viterra's port facility in Montreal, the company said.
The transaction is subject to regulatory approvals and other customary closing conditions, and is expected to close this year.