Zen-Noh Buying 35 Grain Elevators from Bunge

COVINGTON, LA – Zen-Noh Grain Corporation (ZGC), a subsidiary of the National Federation of Agricultural Cooperative Associations of Japan (Zen-Noh), has reached an agreement to acquire 35 operating US grain origination elevators along the Mississippi River from St. Louis, MO-based Bunge North America, Inc. (BNA), a subsidiary of Bunge Limited. Closing on the transaction is subject to regulatory approval.

ZGC’s affiliate, CGB Enterprises, Inc. (Covington, LA), will operate the acquired facilities through its wholly-owned subsidiary, Consolidated Grain and Barge Co. CGB currently operates more than 100 grain origination facilities in the US. CGB serves a vital role as a direct connection to the U.S. farmer by providing an array of services from buying, storing, selling and shipping crops, to financing and risk management.

ZGC recently expanded its Convent, LA export elevator’s annual capacity. This acquisition contributes to ZGC’s ability to adequately source a stable supply of grains, oilseeds and feed ingredients for Japan and other destinations by strengthening its origination across a broader footprint in the US.

Rabo Securities USA, Inc. and The Norinchukin Bank have acted as financial advisors, and Baker McKenzie has acted as legal advisor, to ZGC in this transaction.

ZGC trades and exports corn, soybeans, sorghum, wheat and byproducts from its state-of-the art export Elevator located at mile 164 on the Mississippi River in Convent, LA to Japan and other global markets. ZGC also has grain origination interests in Canada and Brazil, and a forage processing business in Pasco, WA.

Bunge is a global provider of sourcing, processing and supplying oilseed and grain products and ingredients. Founded in 1818, Bunge’s network supplies sustainable products and opportunities for more than 70,000 farmers and the consumers they serve across the globe. The company has almost 25,000 employees worldwide who stand behind more than 350 port terminals, oilseed processing plants, grain facilities and food and ingredient production and packaging facilities around the world.