Singapore-Based Agrocorp Acquires Australia’s Associated Grains
Singapore-based Agrocorp International has agreed to acquire Australia’s Associated Grains for an undisclosed amount.
Based in Dalby, Queensland, Associated Grains operates four plants with total storage capacity of 25,000 tons and handling ability for 200,000 tons per year. The company’s product offerings include a range of pulses including chickpeas, mung bean, faba beans, wheat, and barley among other grains and pulses. The company is also active in seed processing and operates a distribution business.
Founded in 1990, this latest acquisition expands Agrocorp’s footprint to 14 countries, with plans in place for further expansion. The company is investing $47 million to add two pulse mills in India and a rice mill in Bangladesh, and plans to expand its presence in Canada.
At Associated Grains, Agrocorp has agreed to upgrade infrastructure, adding 2,400 tons of silo storage, and has committed to R&D projects for the development of new seed varieties in partnership with a research institute in Queensland.