Glencore Agriculture, a global market leader in originating, handling, processing and marketing agricultural commodities, announces it will rebrand the business to Viterra in late 2020. “Viterra is a globally recognised brand within the business. It also has a deep connection to agriculture, with Viterra meaning vitality from the earth. This is an opportunity to unite our business under one brand with a shared purpose and identity.” Glencore Agriculture CEO David Mattiske said.
Viterra is the name of the Canadian-based firm whose acquisition in 2012 helped Glencore become a leading international grain merchant. Glencore started as a metals and minerals firm under the name Marc Rich and Co. and got into agriculture with the purchase of Dutch grain trader Granaria in 1981. The firm rebranded as Glencore in 1993 and its Glencore Agriculture arm bought Viterra in 2012.
Mattiske said the company is “planning for a smooth transition to the new brand over the coming months, while for employees and customers it’s business as usual.” “For over 40 years Glencore invested in the business to create one of the world’s leading agriculture networks. With the investment by CPP Investments and British Colombia Investment Management Corporation (BCI) in 2016, we now have three strong shareholders who share our vision for future growth and success.”
The renaming comes after mining and commodity trading group Glencore sold 50% of its agriculture business in 2016 to Canadian pension funds CPP Investments and British Colombia Investment Management Corporation, which led to Glencore Agriculture becoming a separate entity to Glencore Plc.
Glencore Agriculture is a global leader in the origination, handling, processing and marketing of agricultural commodities and products. With operations in more than 35 countries and a workforce of over 16,000, it has 24 port terminals, 180-plus elevators and handling facilities and over 30 processing plants.