Richardson to Acquire Italgrani USA

Richardson International Limited announced that its subsidiary, Richardson Oilseed (US) Holdings Limited, has entered into a purchase agreement to acquire Italgrani USA Inc., the single largest durum miller in North America.

Richardson has an established precedent of strategic expansion and investment and this latest announcement is an extension of a long-term vision to diversify processing operations. Assets to be acquired by Richardson include a milling facility in St. Louis, Missouri, specializing in semolina and durum flour products, storage and crop inputs facilities situated at Tolley, Powers Lake, and Benedict in North Dakota, and a commodity trading office in Minneapolis, Minnesota.

“This acquisition is fully aligned with our long-term strategic goals of diversification, geographic expansion, and an increased presence in food processing – having gone from canola to oats and now to durum processing,” said Curt Vossen, president and CEO, Richardson International. “The significant scale of processing capability of the Italgrani plant, combined with origination opportunities and crop inputs retail facilities, all included in this transaction, will further enhance the services we will be able to offer to our producer customers, both in Canada and the U.S.”

The purchase agreement will close immediately following receipt of all requisite regulatory approvals. Richardson will own 100% of the shares of Italgrani USA. Following successful completion, Richardson will retain the current workforce and looks forward to welcoming these employees to the Richardson group of companies.

“The Italgrani team is pleased to be joining the Richardson International family of companies and looks forward to working together to further grow and expand the Italgrani USA business footprint,” said James Meyer, president, Italgrani USA. “Our two companies are well aligned in that we are both focused on customer service, innovative solutions, and being good stewards of resources.”