Cargill to acquire soybean processing facility and refinery Owensboro Grain Company

Cargill has agreed to acquire Owensboro Grain Company, the owner of a soybean processing facility and refinery in Owensboro, Kentucky for an undisclosed price.

The deal will see Owensboro Grain Company added to Cargill’s agricultural supply chain business in North America.

Cargill expects Owensboro Grain Company to boost its efforts for modernizing and expanding capacity at its North American oilseeds network to support the increasing demand for oilseeds caused by food, feed, as well as renewable fuel markets.

Leonardo Aguiar — Cargill North American agricultural supply chain president said: “Our two companies have tremendous operational histories, similar heritages as grain merchants, and values, including an unwavering commitment to prioritizing people ― making this a tremendous fit. Additionally, this is a significant milestone in Cargill’s journey to create a connected and modernized grain experience for our customers.”

Founded in 1906, Owensboro Grain Company began as a small grain merchant. Currently, it operates a soy processing facility that is fully integrated to produce soy products. These include protein meal and hull pellets for crude and degummed oil, animal feeds, lecithin, multiple blends of refined vegetable oil for consumption by humans, glycerin, biodiesel, and industrial waxes.

Helen Cornell — Owensboro Grain Company president and CEO said: “We are excited for this new chapter in the life of Owensboro Grain Company and believe an acquisition by Cargill will ensure the long-term success of the company.

“Cargill has the ability to capitalize on growing opportunities in the industry, such as renewable energy. The acquisition will ensure that Owensboro Grain Company, its employees, farmers, customers and the community are best positioned for the future.”

The deal, which is subject to receipt of regulatory approvals and other customary closing conditions, is likely to be wrapped up in early 2023.