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Viterra Limited, through a wholly owned subsidiary, announced Oct. 3 that effective immediately it had closed its stock purchase agreement to acquire the grain and ingredients business of Gavilon Agriculture Investment Inc., a wholly owned subsidiary of Marubeni America Corporation. The purchase price for the acquisition was $1.125 billion, plus working capital, and is subject to certain price adjustments.

Viterra was formed in 1981 when metals and minerals trader Marc Rich bought a Dutch grain trading company, Granaria. The new company was named Glencore after a management buyout of Rich in 1993. It moved into supply chain management in 1996 when it bought an Argentine oilseed crushing facility. It bought grain company Viterra in 2012 and rebranded the global business as Viterra in 2020. It now operates facilities in Ukraine, the world’s largest oilseed crusher in Argentina and sugar mills in Brazil.

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