Bunge has agreed to sell its rice mill in Woodland, California to Farmers’ Rice Cooperative for an undisclosed figure.
Farmers’ Rice Cooperative is a California-based, vertically-integrated producer of rice products. The grower-owned cooperative sells a wide range of rice products both in the US and internationally.
The completion of the sale is subject to customary regulatory approvals, and is expected to be finalised by the end of 2020.
Greg Heckman, Bunge’s CEO, said: “As part of our portfolio review, we determined that this mill has limited connections to Bunge’s broader value chains.
“We will work closely with the new owners to make the transition as smooth as possible for employees and customers.”
The sale of the rice mill comes a week after Bunge’s oils and fats joint venture, Bunge Loders Croklaan, offloaded a refinery in Rotterdam, the Netherlands to Neste for €258 million.
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