Bunge Global has finalised its acquisition of Viterra, which is backed by Glencore. This strategic move positions the merged entity to more effectively compete with industry giants such as Cargill and Archer-Daniels-Midland amidst a period of declining profits in the crop-trading sector. Bunge is the world’s largest oilseed processor and a member of the ABCD group of agricultural powerhouses; the company provides essential services connecting farmers to consumers around the globe. Viterra operates a global agriculture network, connecting producers and consumers with sustainable, traceable, and quality-controlled agricultural products.
The acquisition, initially proposed approximately two years prior, was initially targeted for completion by mid-2024. However, the process encountered delays due to pending antitrust approvals from several regions. Bunge announced the closure of the transaction in an official statement, following the receipt of key regulatory approval in China.
Bunge has faced challenges due to abundant global harvests impacting commodity prices. Viterra’s extensive infrastructure, including storage facilities, port terminals, and vessels, is expected to expand Bunge’s trading capabilities and market reach.
