Cargill and Owensboro Grain Company, a fifth-generation family-owned soybean processing facility and refinery located in Owensboro, have entered into a definitive agreement where Cargill will add Owensboro Grain Company (OGC) to its US agricultural supply chain business. The transaction, which has been approved by the boards of directors of Cargill and Owensboro Grain Company, is expected to close in early 2023.
Founded in 1906, Owensboro Grain Company operates a fully integrated soy processing facility, producing soy products, including protein meal and hull pellets for animal feeds, crude, and degummed oil, lecithin, and various blends of refined vegetable oil for various sectors.
The addition of Owensboro Grain Company enhances Cargill's efforts to modernize and increase capacity across its US oilseeds network to support the growing demand for oilseeds driven by the market.
"We are pleased to welcome Owensboro Grain Company into our Cargill family," said Leonardo Aguiar, president of Cargill's North American agricultural supply chain. "Our two companies have tremendous operational histories, similar heritages as grain merchants, and values, including an unwavering commitment to prioritizing people, making this a tremendous fit. Additionally, this is a significant milestone in Cargill's journey to create a connected and modernized grain experience for our customers."
"We are excited for this new chapter in the life of Owensboro Grain Company and believe an acquisition by Cargill will ensure the long-term success of the company," said Helen Cornell, president and CEO at Owensboro Grain Company. "Cargill has the ability to capitalize on growth opportunities in the industry, such as renewable energy. The acquisition will ensure that Owensboro Grain Company, its employees, farmers, customers, and the community are best positioned for the future. We are excited to transfer ownership to another multi-generational family-held enterprise with global access to markets and capabilities to ensure the future growth of our business. Cargill has the global resources necessary to support Owensboro Grain Company's growth goals and operations."
