Bunge strengthens European customer offerings with acquisition of edible oils producer.
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Bunge Deutschland GMBH, a subsidiary of Bunge Limited (NYSE: BG) (“Bunge”), announced that it has agreed to buy a controlling interest in Walter Rau Neusser Öl und Fett AG (“WRAG”) from the Cremer Group, a German holding company. The agreement to purchase all shares held by the Cremer Group will result in Bunge ownership of 62.8% of WRAG. The deal is expected to close in the coming months and is subject to customary closing conditions. Financial terms were not disclosed.
From its facility in Neuss, Germany, WRAG produces edible oils and fats products from oilseeds such as rapeseed and sunflower seed. WRAG creates tailor-made products with specific functional properties to meet the needs of industrial food processors and foodservice operators.
Tommy Jensen, Bunge EMEA CEO said: “The acquisition expands our product offerings while leveraging our extensive knowledge and geographic reach in oilseed crushing and refining. Food processors and food service companies around the world rely on Bunge for oil and fats solutions, and we are excited to combine WRAG’s B2B capabilities and Bunge’s network to continue to grow our business in Europe and globally.”
William Dujardin, Bunge EMEA VP Food & Ingredients added: “WRAG is well-recognized by its customers as a food expert with a strong entrepreneurial culture. We welcome the opportunity to work with WRAG’s employees to build on that foundation and continue to develop deeper customer relationships based on reliable and innovative products.”
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H. Rieux
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About Bunge Limited
Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company operating in over 40 countries with approximately 35,000 employees. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat, corn and rice to make ingredients used by food companies; and sells fertilizer in South America. Founded in 1818, the company is headquartered in White Plains, New York.
About Walter Rau Neusser Öl und Fett AG
Walter Rau Neusser öl und Fett AG is a processor of vegetable oils. The company produces high-grade functional oils and fats with a particular focus on innovative food application. These products are distributed through Europe primarily to the Food processors and Food Service industry. Employing about 200 professionals, Walter Rau Neusseur operates one production facility in Neuss, Germany
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