OLIVET, FRANCE — Axereal, one of France’s leading cereal cooperative groups specializing in growing and processing cereals for the brewing, baking and livestock industries, has reached an agreement under which its Boortmalt subsidiary intends to acquire Cargill’s malt business. Financial terms of the transaction, which would include 15 facilities across 4 continents and more than 500 employees, were not disclosed.
“This transaction would give Boortmalt access to a global footprint and offer further growth opportunities for Cargill’s malt business and its people,” the companies said.
Boortmalt operates 10 malting plants in Europe and produces and sells more than a million tonnes of malt a year. Boortmalt uses its strategic site at Antwerp, Belgium, to export 50% of its total production to emerging markets. A market leader in the United Kingdom and Ireland, Boortmalt is a recognized producer of whiskey and specialty malts.
Cargill entered the malt business in Europe in 1979 and today serves the brewing, food and beverage industries by originating and transforming malting barley into malt. The company’s malting operations are located in the United States, Canada, Argentina, Australia, Belgium, Germany, France, Spain and The Netherlands.