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UPDATE 1-Canadian grain handler Richardson buys European Oat Millers
June 26, 2017 / 5:20 PM / 6 months ago

UPDATE 1-Canadian grain handler Richardson buys European Oat Millers

(Adds Richardson comments)

By Rod Nickel

WINNIPEG, Manitoba, June 26 (Reuters) - Richardson International, one of Canada’s largest grain handlers, said on Monday that it had purchased European Oat Millers in a deal that expands its geographic reach.

The acquisition of European Oat Millers, the second-largest oat miller in Europe, closed on June 15, Richardson said in a statement. Both companies are privately owned.

Winnipeg-based Richardson intends to increase manufacturing capacity of European Oat Millers, which is based in Bedford, England, and look for other opportunities to expand globally, Chief Executive Curt Vossen said.

“It was a tremendous fit for us,” said Richardson spokeswoman Tracey Shelton. “We are positioning ourselves as a global player.”

The company could expand further in Europe, in the United States or elsewhere, she said. With the purchase, Richardson is one of the world’s five biggest oat millers by capacity, she said.

Shelton declined to disclose terms of the deal or the production capacity Richardson acquired in the purchase.

Richardson, a Canadian handler of canola, wheat and other crops, expanded into oat milling in 2013, and owns three oat processing plants in Canada and one in the United States.

Oats complements Richardson’s bigger canola business, which includes producing vegetable oil, margarine and shortening, Shelton said. (Reporting by Rod Nickel in Winnipeg, Manitoba; editing by Nick Zieminski and Diane Craft)

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