Ag News
Bunge, Viterra announce merger
Posted on Jun 21, 2023 at 0:00 AM
On June 13, Bunge Limited announced an agreement with Viterra Limited to merge in a stock and cash transaction.
St. Louis-based Bunge is a processor of plant-based oils and fats. Viterra, based in the Netherlands, provides storage, processing and logistics services for agricultural commodities. According to a June 13 story in Farm Progress, the merger creates an agribusiness large enough to compete with Cargill and Archer-Daniels-Midland.
According to a joint release, the merger will create “an innovative global agribusiness company well positioned to meet the demands of increasingly complex markets and better serve farmers and end-customers.”
Following the close of the transaction, the combined company will be led by Greg Heckman, Bunge’s Chief Executive Officer, and John Neppl, Bunge’s Chief Financial Officer. Viterra Chief Executive Officer David Mattiske will join the Bunge Executive Leadership Team in the role of Co-Chief Operating Officer. The company’s operational headquarters will be located in St. Louis.
The merger is expected to close in mid-2024, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals and approval by Bunge shareholders.
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