Cargill Australia Limited announced Oct. 31 that it has completed the acquisition of Joe White Maltings from Glencore International.
Philippa Purser, Cargill Australia Managing Director said: "Cargill Australia was recently informed by the Foreign Investment Review Board that the Federal Government had no objections to the acquisition and we have now concluded the transaction."
"Through its investments over many years, Cargill continues to demonstrate a long-term commitment to the future and success of Australian agriculture and farmers, and we are delighted with this new opportunity in the malting industry," said Ms Purser. "We look forward to bringing our malt industry expertise and additional capital to Joe White Maltings to continue to grow the business which will ultimately benefit Australian malting barley growers, our domestic and international customers and the Joe White Maltings' employees."
Doug Eden, President of Cargill's Global Malt business, said, "The acquisition of Joe White Maltings provides Cargill with a global footprint in all key global barley production areas and we are now in a position to provide better opportunities for our Australian farmer customers and better meet the needs of our global and leading regional brewers."