Maviga is an international player in the origination, processing and supply of dried edible pulses and other specialty crops.
Following the transaction, Maviga will become a wholly owned subsidiary of ED&F Man and be part of the company’s strategic growth plans for its commodities division.
Founded in 1994, Maviga had more than $300 million in sales during 2015. The company, which has trading offices and processing facilities in 12 countries, originates, processes and ships approximately a quarter of a million tons of bagged or bulk containerized products from more than 25 origins to industrial end users and import distributors in more than 65 destination markets around the world.
|Philip Howell, group chief executive of ED&F Man.|
Marcus Cole, CEO of Maviga, added, “This is about the perpetuity of our business, something that ED&F Man, with its 230-year heritage understands. ED&F Man has a strong entrepreneurial culture and will be able to provide Maviga with investment capital for both continued organic growth and acquisitions.”
Founded in 1783, ED&F Man sources, stores, ships and distributes agricultural products, including coffee, sugar, molasses and grain. The company also helps many of its customers manage pricing risk through financial products, and for others acts as a broker, executing orders for hedge funds and professional traders.