Milling & Baking News - May 4, 2021 - 34

TUES | 05 04 2021

FARGO, ND. - Bushel, an independently
owned software company and provider of
software technology solutions for growers,
grain buyers, ag retailers, protein producers and food companies, has closed on a
$47 million Series C investment round. The
investment round was led by Lewis & Clark
AgriFood, a St. Louis-based food and agriculture-focused investment firm, and Continental Grain Co., and included participation
from new and existing investors, including

Approximately $22 billion of grain is contracted
annually within Bushel's ecosystem.
Cargill and Scoular. Consolidated Grain and
Barge Co. is expected to close its investment
in the round in the coming weeks.
Bushel said the infusion of capital will
allow for capabilities to help consumer
brands sustainably source commodities in

the global grain supply chain and also will
be used to accelerate the company's current product offerings.
" We are excited to invest further into
Bushel alongside some of our high-value
partners like Cargill and Scoular, " said Chris
Abbott, co-head of Continental Grain Ventures. " Bushel is one of the leading independent software companies in agriculture and
serves as the critical link connecting growers to grain buyers, processors, brands and
consumers. This funding
accelerates deployment of
new offerings and embedded capabilities throughout
the food and ag value chain.
We believe it results in better outcomes for growers
and the supply chain. "
Bushel claims its platform reaches 40% of grain
origination in the United
States, resulting in " inarguably the largest technology
network effect among
growers and grain buyers
in the US today. " Approximately $22 billion
of grain is contracted annually within Bushel's ecosystem, the company said.
" Bushel is here to win for our customers
and their growers, " said Jake Joraanstad,
chief executive officer and co-founder of

Sukup Manufacturing to acquire
certain assets of Global Fabrication
SHEFFIELD, IOWA - Sukup Manufacturing Co. announced it is acquiring
certain assets of Global Fabrication, Inc., a
full service fabrication facility located in
Hampton, Iowa.
The expansion will allow Sukup to
double its manufacturing capacity for cat
walks, towers and other structural products while maintaining a commitment to
employment in north central Iowa.
The existing facility is approximately
70,000 square feet. Sukup is accepting

MILLING & BAKING NEWS

applications for immediate hires at the
location and planned to have the facility
fully operational by the end of April.
" This is the second facility expansion
Sukup has announced in 2021, and we believe
this investment in our manufacturing facilities is a positive sign of continued growth as
a company, " said Steve Sukup, president and
chief executive officer. " Ultimately, our goal is
to create products that help farmers feed and
fuel the world, and this additional space and
personnel is necessary to meet demand. One

Bushel. " We are here to build on the agriculture industry's century of infrastructure investment. We're here not to disrupt
but instead, to collaborate and help lead the
industry into the digital age with strategies
that make sense and provide value for all
stakeholders in the ag and food value chain.
We serve as the independent integration
hub that saves businesses significant manual effort, time and expense, while also
strengthening the relationships between
growers and agribusinesses through
secure, proven and easy-to-use software
products and services. "
Approximately 60,000 growers use Bushel's products and services each month, and
nearly 2,000 grain buying locations across
the United States and Canada utilize Bushel
to power their grower-facing and internal software products. Bushel's platform
integrates into multiple grain accounting
systems, trading desks, farm management
systems, insurance companies and market
feeds to allow different software systems to
work with each other.
Cargill has committed to using the
Bushel platform to power select internal
and external digital tools while Scoular has
been using the Bushel platform since 2018.
Consolidated Grain and Barge Co. is exploring opportunities for utilization of Bushel's
suite of services.
Founded in 2011, Bushel's product suite
includes its flagship mobile app, websites,
trading tools, market feeds, API services
and a custom software division focused on
agriculture. MBN

of our top priorities in this acquisition is to
retain many of Global Fab's current employees. We look forward to a smooth transition
and adding manufacturing capacity for our
material handling products. "
Todd Hall of Global Fabrication, added,
" Sukup is a trusted employer in north
central Iowa. We appreciate Steve Sukup's
leadership through this process and are
confident the employee transition will go
smoothly. It's great to know that Global Fab
will be part of Sukup's positive impact on
the agriculture industry moving forward. "
NCP, Inc., acting as exclusive financial
adviser, and BrownWinick, acting as legal
counsel, advised Sukup on the transaction. MBN
bakingbusiness.com

CONTINENTAL GRAIN

MILLING technology

Continental Grain, Cargill, Scoular
among Bushel software investors

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Milling & Baking News - May 4, 2021

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