Richardson to Acquire Italgrani USA, North America's Single Largest Durum Miller

Winnipeg, MB — Richardson International Limited subsidiary Richardson Oilseed (US) Holdings Limited has entered into a purchase agreement to acquire Italgrani USA Inc., the single largest durum miller in North America, the company said in a July 8 news release.

Richardson has an established precedent of strategic expansion and investment and this latest announcement is an extension of a long-term vision to diversify processing operations.

Assets to be acquired by Richardson include a milling facility in St. Louis, MO, specializing in semolina and durum flour products, storage and crop inputs facilities situated at Tolley, Powers Lake, and Benedict in North Dakota, and a commodity trading office in Minneapolis, MN.


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"This acquisition is fully aligned with our long-term strategic goals of diversification, geographic expansion, and an increased presence in food processing – having gone from canola to oats and now to durum processing," said Curt Vossen, president and CEO, Richardson International.

"The significant scale of processing capability of the Italgrani plant, combined with origination opportunities and crop inputs retail facilities, all included in this transaction, will further enhance the services we will be able to offer to our producer customers, both in Canada and the U.S."

The purchase agreement will close immediately following receipt of all requisite regulatory approvals.

Richardson will own 100 per cent of the shares of Italgrani USA. Following successful completion, Richardson will retain the current workforce and looks forward to welcoming these employees to the Richardson group of companies.

"The Italgrani team is pleased to be joining the Richardson International family of companies and looks forward to working together to further grow and expand the Italgrani USA business footprint," said James Meyer, president, Italgrani USA.

"Our two companies are well aligned in that we are both focused on customer service, innovative solutions, and being good stewards of resources."

"We would like to congratulate Richardson on this successful transaction. We are confident that Richardson will understand and nurture the unique culture and business qualities that made Italgrani so successful over the years and will contribute to the further growth of the business," said Ruggero Benedini, CEO, Progetto Grano, the majority shareholder of Italgrani USA.

"We also want to especially thank James Meyer, Lisa Rucker(treasurer, Italgrani USA), the rest of the management team, and the employees of Italgrani USA for the excellent results achieved over the last fifteen years.

"We appreciate their support throughout the process, as well as the advisory team involved in getting the deal smoothly across the finish line."

Rabobank is serving as financial adviser and Koley Jessen as legal counsel to Richardson International on the transaction.

Rothschild & Co. is serving as financial adviser; Gattai, Minoli, Partners as legal counsel — together with Akerman for U.S. law aspects; and Marchese Zanardi & Partners as tax adviser to Italgrani and its shareholders.


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