Milling & Baking News - September 26, 2017 - 32

International X

Seaboard enters pact to acquire
Groupe Mimran flour milling assets
LEAWOOD, KAS. - Seaboard Corp.
on Sept. 18 said it has entered a memorandum of understanding (MOU) with
Groupe Mimran under which Seaboard
intends to acquire the flour milling and
associated businesses of Groupe Mimran located in Senegal, Ivory Coast
and Monaco.
The acquired businesses would become part of Seaboard's Commodity Trading and Milling segment and
would increase the flour and feed milling capacity of its consolidated and
non-consolidated businesses by approximately 15%, to more than 24,000
tonnes per day, and its grain trading volume by approximately 9%, to
about 10.5 million tonnes per year,
Seaboard said.
"We are excited to further our investment in sub-Saharan Africa with this
acquisition and believe the culture and
operations will be a great fit with our
existing structure," said Steven Bresky,
president and chief executive officer of
Seaboard. "Seaboard has had commercial

ties with the Mimran Group for almost
40 years, and we look forward to integrating the business into our existing
trade strategy and expand our cargo
and trade opportunities as a result of

this transaction. We expect to continue
to work closely together with the Mimran Group by leveraging our existing
strengths into a better industrial and
trade-based business."
Founded nearly 100 years ago, Seaboard operates globally through a network of integrated industrial serviceoriented companies with sales of more
than $5 billion per year. The company's
main activities include processing and
production of pork and turkey products, containerized shipping, and international grain processing and trading.
Groupe Mimran is one of the leading

agri-food groups in West Africa, operating sugar refining, flour milling
and animal feed businesses. Groupe
Mimran was founded more than 60
years ago by the Mimran family, and
its main companies in flour milling
and sugar refining include Grands
Moulins de Dakar, Grands Moulins
d'Abidjan, and Compagnie Sucriere
Senegalaise.
"We are delighted to enter into this
memorandum of understanding with
Seaboard," said David Mimran, president director general of Grands Moulin
d'Abidjan and Grands Moulins de Dakar. "An important consideration for
us was that any new owner shares the
same values and culture that we have
instilled within our businesses over the
years. Just like ourselves, Steve Bresky
is the third generation of his family running a substantial business, and I very
much look forward to assisting Mr.
Bresky and his team in any way we can
with respect to this new chapter in the
development of the business."
The proposed acquisition is subject to
negotiation and execution of a definitive purchase agreement and finalization of Seaboard's due diligence. MBN

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32 / September 26, 2017 XMilling & Baking News

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