ST. LOUIS — Bunge Ltd., a producer and supplier of specialty plant-based oils and fats, and Viterra Ltd. announced plans to merge.
The merger will create a global agribusiness company with a goal of meeting the demands of increasingly complex markets and better serving farmers and end-customers. Both companies will benefit from more diversified capabilities, greater operational flexibility across oilseed and grain supply chains and processing, greater resources, and combined employee talent to create value for all stakeholders.
“The combination of Bunge and Viterra significantly accelerates Bunge’s strategy, building on our fundamental purpose to connect farmers to consumers to deliver essential food, feed and fuel to the world,” said Greg Heckman, CEO of Bunge. “Our highly complementary asset footprints will create a network that connects the world’s largest production regions to areas of fastest growing consumption, enhancing the geographical balance and adaptability of our global value chains, and benefitting farmers and end-customers.”
When the merger is complete in 2024, the newly formed company will operate as Bunge. Heckman and John Neppl, Bunge’s CFO, will lead the organization. David Mattiske, current CEO of Viterra, will join the executive leadership team as co-COO.
“Viterra and Bunge are two leading agriculture businesses,” Mattiske said. “In combining our highly complementary origination, processing and distribution networks, we are better positioned to meet the increasing demand for the food, feed and fuel products we offer. Together, we will play a leading role in the future of the agriculture industry, developing fully traceable, sustainable supply chains and moving towards carbon-neutral operations, while creating a strong growth platform for our combined business.”
