Axereal creates "world's leading player in malt production"7 Nov 2019
French grain cooperative Axereal has acquired Cargill’s malt business, making Boortmalt, Axereal’s malt subsidiary, the world's leading player in malt production according to the company.
Jean-François Loiseau, President of the Axereal Group said: “This acquisition meets our two strategic objectives: Firstly, to invest in the downstream of barley to increase the value of our farmers production in France and internationally, and especially in growing markets. Secondly, we have a long-term vision for our cooperative farmers. This acquisition will help ensure that our trajectory is competitive. We at Axereal are leading the way for the agricultural transition with industrial innovation that provides quality food whilst respecting the environment.”
Paul-Yves L’Anthoën, Chief Executive Officer of the Axereal Group said: “This acquisition is a major step in our cooperative's strategic plan: it allows us to diversify our sources of value, and it bolsters the group's position in a growing sector. It also strengthens our relationship with the financial community.”
The acquisition sees Boortmalt take over all Cargill malt activities: 16 malthouses in nine countries, nearly 600 employees, and with a total production capacity of 1.7 million tonnes. This will bring the total capacity of the Boortmalt Group to 3 million tonnes with 27 malting plants on five continents.
Yvan Schaepman, Chief Executive Officer of Boortmalt, said: “This acquisition offers us new growth prospects and will enable us to better mitigate risks, particularly those linked to climate change. It also allows us to accelerate the development of new malting barley varieties and to create new malts. With this acquisition, we are pursuing our primary ambition: to become the best maltster in the world. The headquarters of Boortmalt will remain in Antwerp, Belgium along with our R&D centre and the world’s biggest malthouse.”
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