Canadian grain company Parrish & Heimbecker Ltd said on Wednesday it has acquired 10 locations of Louis Dreyfus Co, as part of plan to grow its grain supply chain across the country.
The deal will help the Winnipeg, Canada-based firm expand its grain and crop input business in new geographies, across Manitoba, Saskatchewan, Alberta and British Columbia, and provide farmers access to grain trading, handling and merchandising.
“Providing farmers with increased variety and more powerful combinations of crop input solutions is more important than ever as we look to drive yields and overall performance,” John Heimbecker, chief executive officer of P&H said in a statement.
The sale of locations by Louis Dreyfus also comes at a time when agricultural commodities companies have been restructuring their businesses and cutting costs amid an ongoing U.S.-China trade war.
Louis Dreyfus, often known as Dreyfus, is the ‘D’ of the so-called “ABCD” quartet of global crop merchants firms, which also include Archer Daniels Midland, Bunge and Cargill.
Source: Reuters.com