NEWS FEED & ADDITIVE MAGAZINE November 2022 97 Viterra completes its acquisition of Gavilon Viterra Limited, through a wholly-owned subsidiary, announced that it has closed its stock purchase agreement to acquire the grain and ingredients business of Gavilon Agriculture Investment, Inc. (Gavilon), a wholly-owned subsidiary of Marubeni America Corporation. The purchase price for the acquisition is US $1.125 billion, plus working capital, and is subject to certain price adjustments. Gavilon, headquartered in Omaha, Nebraska, originates, stores and distributes grains and oilseeds, as well as feed and food ingredients to domestic and global markets. Gavilon’s assets are in major growing areas across the US, with access to major railroads, rivers and ports. “Gavilon’s business has all the key attributes that support our long-term strategic plan, and allows us to provide additional value to our customers at origination and destination,” said David Mattiske, Chief Executive Officer of Viterra Limited. “This acquisition further strengthens our global network by providing us with a material presence in every major exporting region and makes us one of the largest origination businesses in our industry.” Mattiske further added, “It gives me great pleasure to welcome Gavilon’s employees to the Viterra team. I look forward to a smooth integration as we work together to generate further opportunities for our employees and customers, while creating added value for our shareholders and investors.” Effective immediately, Viterra will integrate Gavilon into its global network and in early 2023 will implement the Viterra brand across the business. world-leading industrial biotechnology hub in Australia. “The new laboratories will allow us to expand our research capabilities, putting MicroBioGen and Australia at the forefront of global biotech and sustainable innovation," said MicroBioGen CEO Geoff Bell. “By building a state-of-the-art facility we will attract and retain the brightest scientific minds to NSW (New South Wales), scientists who can help MicroBioGen advance its micro-organisms, especially in the areas of sustainability, biofuels, animal feed and alternative protein development. Exports currently make up 100 per cent of our revenues so it is essential that our facilities and our scientists are also the best in the world.” Founded in Sydney in 2001, MicroBioGen’s first commercial ethanol products entered the North American market in 2017 through a partnership with Danish industrial biotech giant Novozymes. In just four years, MicroBioGen-developed yeast were the leading biocatalysts in the US biofuel market. Twice the size of the Company’s previous research space, the 1,250 square meter facility will enable MicroBioGen to double its skilled scientific workforce to around 40 scientists including geneticists, and biofuel and baking specialists. The dedicated R&D facility includes fermentation labs, a genetics lab and large preparation rooms, all equipped with the latest technology including robots, high performance liquid chromatography and minus 80C˚ freezers.
RkJQdWJsaXNoZXIy MTUxNjkxNQ==