Emerald Grain, one of the largest grain marketing and supply chain businesses in Australia, has been acquired by entities associated with Sydney-based alternative investment management firm, Roc Partners. Emerald was previously owned by Sumitomo Corporation.
Emerald managing director David Johnson said the company had developed substantially under Sumitomo’s ownership and he looked forward to a new phase for the business with ROC Partners. “ROC Partners have numerous investments in Australian agriculture and represent an exciting step for Emerald,” Mr Johnson said.
“Sumitomo was involved with Emerald for many years, the past five as parent company, working strongly with Emerald as we restructured the business and refined our strategy – a very important period during which we appreciated Sumitomo’s support and guidance.
ROC Partners are entering the grain industry in a year when seasonal conditions are highly favourable in all our operating regions, they recognise the strategic nature of Emerald’s assets and are excited by our growth prospects” he said.
The transaction involves all Emerald’s business activities in grain trading and supply chain management continuing uninterrupted, a crucial point given the current grain harvest is well underway in much of the Australian grain belt.
“Emerald is already receiving grain at our country storages and moving grain to export positions,” Mr Johnson said. “All our activities with growers, customers and our various service suppliers will be continuing as normal through this very busy time.”