Zen-Noh Grain Corporation (ZGC), of Japan, announced on Wednesday that it will buy 35 Bunge grain origination elevators along the Mississippi River. The purchase from Bunge North America is pending regulatory approval.
ZGC’s affiliate, CGB Enterprises, Inc., of Covington, La., will operate the acquired facilities through its subsidiary Consolidated Grain and Barge. Today CGB operates more than 100 grain origination facilities in the United States. It provides buying, storing, selling, shipping, financing and risk management services to farmer customers.
This acquisition “contributes to ZGC’s ability to adequately source a stable supply of grains, oilseeds and feed ingredients for Japan and other destinations by strengthening its origination across a broader footprint in the U.S.,” the company said in a recent press release.
Financial details have not been disclosed.
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