Richardson International to acquire durum miller Italgrani USA

Canada’s Richardson International, through its subsidiary Richardson Oilseed (US) Holdings, has agreed to acquire durum miller Italgrani USA.

The financial details of the deal were not shared.

The deal involves the acquisition of a milling facility in St Louis, Missouri, which specialises in semolina and durum wheat products.

The transaction also includes storage and crop inputs facilities in North Dakota, along with the purchase of a commodity trading office in Minneapolis, Minnesota.

Richardson International president and CEO Curt Vossen said: “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.

“The significant scale of the 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 that we will be able to offer to our producer customers, both in Canada and the US.”

Completion of the deal is subject to regulatory approvals.

Upon completion of the deal, Richardson will own 100% of the shares of Italgrani USA and absorb its employees.

Italgrani USA president James Meyer said: “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.

“Our two companies are well aligned in that we are both focused on customer service, innovative solutions, and being good stewards of resources.”