The global agribusiness Bunge plans to move its headquarters 1,000 miles west from suburban New York to the St Louis, Missouri area, in the heart of the US farm belt.
Bunge Limited, a leader in agriculture, food and ingredients, announced that it is relocating its global headquarters from White Plains, NY, to the St. Louis, MO metropolitan area. This move allows the Company to leverage shared capabilities and enhance collaboration. The company, the world’s biggest soyabean processor and a leading international grain trader, said the move would take place by next June and cost $35m-$45m in restructuring charges.
“While St. Louis is already an important hub for Bunge and our current North American operations, the city is also home to a number of food, agriculture, animal health and plant science organizations and customers,” said Gregory A. Heckman, Bunge’s CEO. “Moving the global headquarters to a location where Bunge has a major business presence is a big step forward in shifting the Company’s operating model to align around a more efficient, streamlined global business structure. We are grateful to have called White Plains home for many years, and now look forward to the new growth and development opportunities which our expanded St. Louis presence will provide.” The company is in the early planning stages of the transition to the new global headquarters, which is expected to be completed by the end of the second quarter 2020.
The largest share of Bunge’s assets are located in South America, where it purchases crops from farmers for processing and export. Bunge was headquartered in São Paulo, Brazil before moving to White Plains, New York in 1998 ahead of its listing on the New York Stock Exchange. Bunge is heavily involved in sourcing, processing and supplying oilseed and grain products and ingredients. Founded in 1818, it has 31,000 employees worldwide and operates more than 360 port terminals, oilseed processing plants, grain silos, and food and ingredient production and packaging facilities around the world.