- Bunge Ltd BG, through its Bunge Loders Croklaan JV with IOI Corporation Berhad, entered into a definitive asset purchase agreement with Fuji Oil New Orleans LLC to acquire its port-based refinery in Louisiana. The financial details were not disclosed.
- The newly constructed refinery is located in IMTT's (International-Matex Tank Terminals) Avondale Terminal, Louisiana.
- The facility has multi-oil refining capabilities, enabling Bunge to expand its existing customer base.
- The acquisition will provide Bunge with a scalable, complementary port-based footprint that connects North American food, feed, and fuel customers to global markets.
- Bunge will serve customers with the newly acquired capacity starting in the second quarter 2023.
- "This acquisition delivers on our long-term strategy to expand our value-added oils business by accelerating reach across North America," said Aaron Buettner, Bunge's President, Food Solutions.
- The company held $1.1 billion in cash and equivalents as of Dec. 31, 2022.
- Price Action: BG shares closed higher by 0.24% at $92.46 on Thursday.
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