Seaboard will acquire Group Mimran, one of the leading agri-food groups in West-Africa. With this acquisition the flour and feed milling capacity of Seaboard will increase by approximately 15 percent to over 24,000 metric tons per day.
Global grain industry actor Seaboard Corporation and the Mimran Group announce that they have entered into a Memorandum of Understanding whereby Seaboard intends to acquire the flour milling and associated businesses located in Senegal, Ivory Coast and Monaco of the Mimran Group. The proposed acquisition is subject to negotiation and execution of a definitive purchase agreement and finalization of Seaboard’s due diligence.
The acquisition would increase the flour and feed milling capacity of Seaboard consolidated and non-consolidated businesses by approximately 15 percent to over 24,000 metric tons per day and its grain trading volume by approximately 9 percent to approximately 10.5 million metric tons per year.
Group Mimran is one of the leading agri-food groups in West-Africa, operating sugar refining, flour milling, and animal feed businesses. The Mimran Group was established over 60 years ago.
“WE ARE EXCITED FOR INVESTMENT IN SUB-SAHARAN AFRICA”
Commenting on the deal, Mr. Steven Bresky, President and Chief Executive Officer of Seaboard, and Chairman of the Board said, “We are excited to further our investment in sub-Saharan Africa with this acquisition and believe the culture and operations will be a great fit with our existing structure. Seaboard has had commercial ties with the Mimran Group for almost 40 years and we look forward to integrating the Business into our existing trade strategy and expand our cargo and trade opportunities as a result of this transaction.”