German Grain Trader, BayWa Buys Dutch Ag Company, Thegra Tracomex Group
Munich-based grain trader, BayWa continues its buying spree with the acquisition of Dutch agricultural commodities trading company, Thegra Tracomex for US$14.9 million.
This purchase, which BayWa will make through its subsidiary, Cefetra B.V. which BayWa acquired in 2012, follows closely after its acquisition of German barley trader, Evergrain and England’s Wessex Grain earlier this year.
Thegra Tracomex trades in niche commodities for the food, feed, and pet industries including barley, oats, and pulses through its offices in Belgium, the Netherlands, and Poland. The deal by BayWa for the company reflects the expected consolidation within the European sector as smaller, or more specialized traders can’t continue in the difficult market.
The purchase is also a reflection of BayWa’s three-year strategic shift that includes diversifying its business toward non-exchange traded products and shifting to a performance-based payment scheme for its management.