Richardson International, Canada’s largest agribusiness, has announced itself on the world stage by purchasing European Oat Millers, at a time of growing emphasis on scale in the global grain trading industry.
The deal comes against a backdrop of buoyant oat prices, with world oats inventories expected to end 2017-18 at their lowest since at least the 1950s.
Richardson bought family-owned European Oat Millers, which owns two mills in the UK, and is Europe’s second-ranked processor of the grain after the UK’s Morning Foods, from Cereal tycoons Bill and David Jordan, for an undisclosed sum in the group’s first major acquisition outside North America.
Curt Vossen, the Richardson chief executive, said that the deal will “build a presence in Europe to enhance our ability to compete in the global marketplace”
Mr Vossen also said that Richardson, which is also privately owned, will continue to seek opportunities to expand our global business.