Axereal, France’s largest grain cooperative, said it had sealed its previously-announced acquisition of Cargill’s malt business, in a deal which would make Axereal’s Boortmalt unit the world’s leading company in terms of malt production.

Axereal, France’s largest grain cooperative, announced the acquisition of Cargill’s malt business on behalf of its subsidiary, Boortmalt. This acquisition strengthens Axereal’s position globally and makes Boortmalt the world’s leading player in the production of malt.

The acquisition sees Boortmalt takeover all Cargill malt activities: 16 malthouses in 9 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 5 continents making Boortmalt the world leader in the production of malt.

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.”