WINNIPEG, Manitoba, May 1, 2013 (GLOBE NEWSWIRE) -- Richardson International Limited is pleased to announce it has officially acquired a significant number of Viterra assets through an agreement announced last March to acquire in excess of $800 million worth of Viterra assets from Glencore.
Richardson has acquired 19 country elevators and 13 crop input centres co-located with those elevators (see Schedule A attached) formerly owned and operated by Viterra. These facilities will complement the Richardson Pioneer network of grain handling and crop input facilities across Western Canada. Richardson has also acquired a Viterra terminal in Thunder Bay, which will increase capacity and enhance the company's operations through that port. The transfer of other assets acquired by Richardson pursuant to the purchase agreement will be finalized in the near future.
"This is an important milestone in our company history and it is especially significant as we celebrate the 100th anniversary of Richardson Pioneer in 2013," says Curt Vossen, President and CEO of Richardson International. "Through this acquisition, we are growing our business substantially, both in terms of assets and people. By increasing our presence in many communities across Western Canada, we look forward to enhancing our ability to serve customers in new and existing markets."
Richardson has also acquired Viterra's milling business. This includes oat processing plants in Portage la Prairie, Manitoba, Martensville, Saskatchewan and Barrhead, Alberta, as well as an oat processing plant in South Sioux City, Nebraska and a wheat mill in Dawn, Texas. These businesses will now operate as Richardson Milling.
"We are excited to continue our diversification into value-added processing and build on the success we have achieved in canola processing," says Vossen. "The oats processing business also provides us with an opportunity to establish a presence in the U.S., which will increase our profile and enhance our ability to meet the needs of the global marketplace."
Richardson International is Canada's largest agribusiness and is recognized as a global leader in agriculture and food processing. Richardson is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds and a vertically-integrated processor and manufacturer of canola-based products. Based in Winnipeg, Richardson has more than 2,300 employees across Canada and is one of Canada's Best Managed Companies. For more information, visit www.richardson.ca.
A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=18435
