Global grain trader Viterra is in talks to merge with Bunge, a person familiar with the matter said.
The source said that there is no certainty that Glencore-owned Viterra will be able to reach an agreement on the terms.
While both companies refused to comment when contacted by FoodBev, neither denied that the it was untrue. Sources said that the two parties are discussing the deal.
Merging with Viterra would also put Bunge, with 2022 revenues of $67.2 billion, closer to nutrition company Archer Daniels-Midland (ADM) who registered sales of almost $102 billion last year, and who is said to be its rival.
The reported merger with Bunge would also put Viterra among the top tier of global grains merchants, with access to export terminals in the US, one of the largest grain producers and suppliers.
Last year, Viterra acquired the grain and ingredients business of Gavilon Agriculture Investment, a wholly-owned subsidiary of Marubeni America Corporation. The purchase price for the acquisition was $1.1 billion. Gavilon has since been rebranded to Viterra.
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