Cargill Plans to Sell Malt Operations to European Business
MINNEAPOLIS (AP) -- Cargill plans to sell its malt operations to a European business.
The Minnetonka-based agribusiness is seeking regulatory approvals to sell the business in the second half of 2019 to Boortmalt, a subsidiary of French-based cereal grains cooperative Axereal.
Cargill says in a statement it plans to focus on its other food and beverage ingredient groups.
Cargill's malt business has 15 plants around the world, including Argentina, Australia, Belgium, Canada, France, Germany, the Netherlands, Russia, Spain and the United States. Boortmalt has numerous plants across Europe, including France, England, Scotland, Ireland, Croatia and Hungary.
Cargill announced last spring it was closing its malt plant near Jamestown, North Dakota, which is one of the company's three U.S. plants. Cargill entered the malt business in 1979.