Bartlett Enhances Agricultural Space with Ceres Acquisition
Bartlett Strengthens Its Agricultural Capabilities
Bartlett, a prominent company in the agricultural sector, has made waves with its recent acquisition of Ceres Global Ag Corp., a noteworthy player in the agricultural, energy, and industrial products supply chain. This strategic move not only propels Bartlett's operational footprint but also greatly enhances its grain merchandising proficiencies.
The Details of the Acquisition
After securing all necessary court, shareholder, and regulatory approvals, Bartlett has finalized the acquisition announced earlier this year. Ceres operates across various locations and has become a key contributor to the agricultural market. This transaction is an important milestone in Bartlett's ongoing strategy to solidify its presence within the industry.
Expanding Grain Storage and Capabilities
With the addition of Ceres, Bartlett is poised to increase its grain and oilseed storage capacity by approximately 45 million bushels across 13 strategic locations. This expansion not only supports Bartlett’s existing operations but also opens up new avenues for growth within its agricultural initiatives.
Commodities Expertise
Ceres brings an extensive portfolio of experience in trading vital commodities such as spring wheat, durum, oats, and canola. This wealth of knowledge is set to complement Bartlett's existing operations, enabling better service delivery to customers and partners.
Leadership Perspectives on the Acquisition
Jeff Roberts, President and CEO of Savage, expressed enthusiasm about the acquisition, noting its significance for both Bartlett and Ceres. He emphasized that this step forward is integral to the overarching strategy aimed at enriching Bartlett's agricultural business while delivering robust value to its clientele.
Focus on Long-term Growth
As Bartlett integrates Ceres into its operations, the focus remains on fostering long-term growth. The partnership is predicated on the rich agricultural expertise each entity brings to the table, along with a shared commitment to integrity and operational excellence.
The Vision for the Future
Bob Knief, Executive Director at Bartlett, highlighted that Ceres aligns seamlessly with Bartlett's culture, vision, and operational objectives. The integration paves the way for enhanced capabilities and an expanded reach, promising to deliver greater value to growers and customers alike.
About Bartlett
Since its inception in 1907, Bartlett has been dedicated to excellence in the agribusiness sector. As part of the Savage family of companies since 2018, Bartlett has built a reputation for robust operations in grain acquisition, storage, transportation, processing, and merchandising. The company stands as a leading exporter of grain to various international markets, including Mexico.
About Savage
Founded in 1946, Savage has established itself as a private company with a diverse portfolio spanning three major businesses: Savage Infrastructure, Bartlett, and Texon. With a workforce exceeding 4,200 individuals and operations across numerous locations, Savage plays a vital role in the global supply chain, striving to satisfy the growing demands of food production and renewable energy.
Frequently Asked Questions
What is the main purpose of Bartlett's acquisition of Ceres?
The acquisition aims to enhance Bartlett's grain merchandising capabilities and operational reach, enabling it to better serve its customers and partners in the agricultural sector.
How much storage capacity is being added with this acquisition?
Bartlett is set to increase its total grain and oilseed storage capacity by approximately 45 million bushels with the addition of Ceres.
What commodities will Bartlett expand its trading capabilities in?
Ceres brings significant expertise in trading commodities such as spring wheat, durum, oats, and canola, enriching Bartlett's existing offerings.
When was Bartlett established?
Bartlett was founded in 1907 and has been a notable player in the agribusiness sector ever since.
What is Savage's role in this acquisition?
Savage, as the parent company of Bartlett, supports the acquisition as part of its broader strategy to strengthen its agricultural business operations in North America.
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