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Bunge Agrees to Sell Mexico Wheat Mills to Grupo Trimex
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Bunge Limited (NYSE: BG) has announced its agreement to sell seven wheat mills in Mexico to Grupo Trimex. This decision aligns with Bunge's strategy to operate value chains more effectively, focusing on end-to-end collaboration with farmers and customers. CEO Greg Heckman emphasized that this sale will enhance opportunities for employees and customers alike. Following the sale, Bunge will continue to serve its oil and meal customers in Mexico and operate its corn mill in Querétaro.
Positive
Strategic divestiture of non-integrated wheat milling business in Mexico.
Continued operations in oil and meal sectors, ensuring stable revenue sources.
Negative
None.
ST. LOUIS--(BUSINESS WIRE)--
Bunge Limited (NYSE: BG) today announced that it has agreed to sell its seven Mexico wheat mills to Grupo Trimex. The completion of the sale is subject to customary closing conditions, including regulatory approval.
“Bunge is most effective when we operate our value chains end-to-end, collaborating closely with our farmers and customers. The wheat milling business in Mexico is not fully integrated in the way that is critical to successfully serving our customers in line with our long-term sustainable and strategic goals,” said Bunge CEO Greg Heckman. “We believe selling the business to a well-respected wheat miller will provide a great opportunity for our employees as well as our customers.”
Bunge will continue to serve its oil and meal customers in Mexico and will continue to operate its corn mill in Querétaro.
About Bunge
At Bunge (www.bunge.com, NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. With more than two centuries of experience, unmatched global scale and deeply rooted relationships, we work to put quality food on the table, increase sustainability where we operate, strengthen global food security, and help communities prosper. As the world’s leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, we value our partnerships with farmers to improve the productivity and environmental efficiency of agriculture across our value chains and to bring quality products from where they’re grown to where they’re consumed. At the same time, we collaborate with our customers to create and reimagine the future of food, developing tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world. Our Company is headquartered in St. Louis, Missouri, and we have more than 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.
Website Information
We routinely post important information for investors on our website, www.bunge.com, in the "Investors" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.
