Viterra Limited acquires Gavilon

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ROTTERDAM, The Netherlands, January 26, 2022 /PRNewswire/ – Viterra Limited (Viterra) is pleased to announce that it, through a wholly owned subsidiary, has entered into a share purchase agreement with Marubeni America Corporation, a wholly owned subsidiary of Marubeni Corporation, to acquire the grain and ingredients business of Gavilon Agriculture Investment, Inc. (Gavilon).

The agreed purchase price for the acquisition of Gavilon is US $1.125 billionplus working capital, and is subject to certain customary purchase price adjustments.

Gavilon is based in Omaha, NebraskaUnited States and produces, stores, and distributes grains, oilseeds, as well as animal feeds and feed ingredients, to food manufacturers, livestock producers, poultry processors, soybean processors, and dairy producers. ethanol from all over the world.

Gavilon’s core network of assets is located in key growth areas across United States, with access to the main railways, rivers and ports. It also has international activities in Mexico, South America, Europe and Asiaas well as an indirect minority stake in two port terminals located at Kalama, Washington and Portland, OR.

“The addition of Gavilon supports our long-term strategy to significantly increase our presence in United Statesone of the main producing and exporting regions, which will further strengthen our global network,” said David Mattiske, CEO of Viterra Limited. “Combining the assembly businesses of Gavilon and Viterra will allow us to offer more value and flexibility to our customers. We will be able to rapidly improve our sustainable supply chains, provide higher levels of quality control and reliability, while creating exciting opportunities for our customers. customers and employees.”

“We look forward to welcoming Gavilon employees to the Viterra team and further strengthening the successful business and commercial relationships Gavilon has established with growers and consumers.

Pierre MouthaanChief Financial Officer of Viterra Limited, said, “This transaction demonstrates the continued support of our shareholders in realizing opportunities that generate significant growth for our business, while maintaining a strong balance sheet.

“Funding of the agreed purchase price and a portion of the assumed working capital has been secured by the execution of a committed acquisition financing facility. The financing of the remainder of the working capital will be funded using the proceeds other committed financing facilities and cash on share, including unused confirmed available credit lines for an amount of approximately $3.6 billion from December 31, 2021.”

The transaction is subject to customary closing and regulatory approvals and is expected to close in the second half of 2022.

About Viterra

At Viterra, we believe in the power of connection. Our fully integrated, world-leading agricultural network connects producers to consumers with sustainable, traceable and quality-controlled agricultural products. With more than 17,500 talented people operating in 37 countries, our strategic network of agricultural storage, processing and transportation assets enables us to deliver innovative solutions and open pathways for our customers, creating successful and lasting partnerships. . Together we are stronger and achieve more.

IMPORTANT NOTICE REGARDING THIS ANNOUNCEMENT, INCLUDING FORWARD-LOOKING STATEMENTS

This press release contains, or incorporates by reference, statements that are, or may be deemed to be, “forward-looking statements”, which are forward-looking in nature. Forward-looking statements are not based on historical facts, but rather on current forecasts, expectations, beliefs, opinions, plans, objectives, goals, commitments, intentions and projections regarding future events, operating results, outlook, financial condition and strategy discussions. . Forward-looking statements may be made in writing, but may also be made orally.

By their nature, forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of Viterra or its subsidiaries. Forward-looking statements are not guarantees of future performance and can, and often do, differ materially from actual results.

Neither Viterra nor its affiliates, nor any of their associates, directors, officers, employees or advisers, make any representation, warranty, assurance or guarantee that the occurrence of any action, event or result expressed or implied in forward-looking statements of this release will actually be made, occur or be realized. You should not rely on, and are cautioned against relying on, these forward-looking statements, which speak only as of the date of this release or the date of the particular statement (as the case may be).

Nothing in this press release shall, in any jurisdiction, constitute or form part of an offer or invitation to sell or issue, or any solicitation of an offer to buy or subscribe for securities or instruments nor constitute a recommendation or advice in respect of any securities or other financial instruments or any other matter.

SOURCE Viterra Inc.

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