Cargill to sell its malt business to Axéréal
January 2, 2019 By Bakers Journal
Cargill and Axéréal announced their intention to enter into an agreement under which Cargill will sell its malt business to Axéréal’s malt subsidiary, Boortmalt.
The transaction involves the global malt business, including 15 facilities across four continents, representing more than 500 people.
This transaction would give Boortmalt access to a global footprint and offer further growth opportunities for Cargill’s Malt business.
Boortmalt is a subsidiary of Axéréal, creating malt for food industries, distillers and breweries. It operates in 10 malting plants in Europe and produces over a million tons of malt a year, stating it is one of the world’s leading maltsters with a long-term commitment to the malting industry.
Entry into the sale agreement is subject to information and/or consultation procedures with the appropriate employee representative bodies. The transaction will be subject to regulatory and other approvals and is expected to close in the second half of 2019.
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