Glencore Sells Joe White Malting to Cargill
SYDNEY - Aug 5/13 - SNS -- Glencore International entered an agreement to sell Australia's Joe White Maltings to Cargill Incorporated subject to standard regulatory approvals and satisfaction of other customary closing conditions. The sale is expected to close by the end of Glencore's fourth quarter.
Cargill currently operates malting facilities in Europe and the Americas, however it does not have a presence in the Australian malting market. Joe White Maltings is Australia's largest malt producer, with seven plants, and currently supplies brewers in multiple countries in Southeast Asia, as well as Australia.
Doug Eden, President of Cargill's Global Malt business, emphasized this transaction's benefits to customers. "The addition of Joe White Malting will complete Cargill's global footprint in all key barley production areas and enable us to better serve our global and leading regional brewers in the region."
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