Ownership of a number of Manitoba elevators are now in Manitoban hands.
The sales come as Bunge looks to meet its divestment requirements, set down by competition regulators in order to allow the recent merger with Viterra to go through. Five sales have been completed so far, four of which involve sites in Manitoba.
WHY IT MATTERS: The Bunge-Viterra merger raised considerable controversy among Canadian agriculture, with critics arguing that it would significantly reduce competition in the grain marketing landscape, to the detriment of farmers.
Read Also
Canada’s agricultural innovation in crisis?
Experts argue that Canada’s ability to foster agricultural innovation and technology needs drastic improvement, and it needs to happen now
One of those now locally owned sites is the Fannystelle grain elevator southwest of Winnipeg. Carman grain company Linear Grain Inc. confirmed their purchase of the formerly Viterra facility on Nov. 5.
In a release, the Carman company said the elevator would start operation under the new ownership, but with the same staff, immediately.
“We’re excited to welcome the Fannystelle elevator into the Linear Grain family and to continue serving the producers who have supported it,” said Ryan McKnight, president and merchandising manager of Linear Grain Inc. “This facility aligns perfectly with our mission to deliver dependable grain handling and marketing solutions while maintaining strong local relationships.”
Linear Grain has operated out of Carman since 1981, running two Manitoba facilities that handle grain, oilseed, special crops, feed and fertilizer.
The site, McKnight noted, will be a boon for their company, being located on the Canadian Pacific Kansas City rail line.
“As a Manitoba-based company, we understand the importance of having a local presence—people who care about the community and the families behind every load of grain,” he said.
Another Manitoba grain company will be adding three new sites to their portfolio.
On Nov. 7, Bunge confirmed that Morden-based BP & Sons Grain and Storage Inc. has acquired former Viterra sites at Beausejour, the Tucker elevator near Portage la Prairie and Winnipeg (Coulter Avenue).
Saskatchewan sales
At the same time as Bunge announced the Manitoba sales, it also confirmed the sale of the elevator at Dixon, Sask., to local company Direct Grain Ltd. One more elevator at Valparaiso, Sask., has a tentative sale lined up and is waiting for federal approval before closing.
“As part of Bunge’s agreement with the Canadian government, these facilities have been held separate from the rest of Bunge’s business and run by an independent Hold Separate Manager since July 2, and the hold separate and sales process for all six facilities has been monitored by a government-approved third party,” the company said of the recent sales.
Bunge also pointed to its previous sale of an elevator at Eyebrow, Sask., to F.W. Cobs.
