Bunge Limited announced that it has agreed to sell its seven Mexico wheat mills to Grupo Trimex, Mexico’s largest milling company.  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.

Bunge CEO Greg Heckman

Bunge began operations in Mexico in 1998 after acquiring the corn dry milling operation inside a Kellogg’s facility in Querétaro; that same year Bunge formed a partnership with one of the most recognized wheat mill in the country: Harinera La Espiga. In 2012 Bunge purchased the remaining shares of Harinera La Espiga, consolidating its presence in the Mexican market. A year later, Bunge Mexico acquired six mills from Grupo Altex, the largest acquisition in Bunge North America's history which tripled the company's size in Mexico.