French company, Axereal, acquires Cargill’s malt business
Axereal, France’s largest grain cooperative, announced the acquisition of Cargill’s malt business on behalf of its subsidiary, Boortmalt.
This acquisition makes Boortmalt the world’s leading player in the production of malt.
“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,” said Jean-François Loiseau, president of the Axereal Group. “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.”
This acquisition sees Boortmalt taking 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 three million tonnes with 27 malting plants on five continents making Boortmalt the world leader in the production of malt. The headquarters of BOORTMALT will remain in Antwerp, Belgium as well as the R&D centre, making the Antwerp malthouse the biggest in the world.