Cargill seeks acquisitions
Cargill, the family-owned agribusiness giant, is considering acquisitions, the Wall Street Journal reported.
Marcel Smits, Cargill’s CFO, told the Journal the company is targeting the meat sector and would also consider buying grain-trading businesses.
Cargill has sold businesses for a total of $3.1 billion in the past two years while making investments of about $4 billion to move into higher-profit areas, the article said. The conglomerate has bought a salmon-feed producer, built a soybean processing plant, made a deal to buy a Colombian chicken processor and is expanding its Asian chicken operations, the Journal reported.
The year just ended was Cargill’s strongest since 2009. Profits rose 19% to $2.84 billion, the article said.
Cargill is the U.S.’s largest private company by sales. (Source: Wall Street Journal, July 14, 2017.)