U.S. Seaboard Expands Milling Business in Africa
U.S.-based Seaboard Corporation announced it has agreed to acquire Groupe Mimran’s flour milling and associated businesses in Senegal, Ivory Coast, and Monaco. Through the transaction Seaboard will acquire a flour mill and feed mill in Dakar, Senegal; a flour mill in Abidjan, Ivory Coast; a flour mill in San Pedro Ivory Coast; and grain trading operations in Monaco.
Founded more than 60 years ago, Groupe Mimran has grown to be one of the leading agri-food groups in West Africa and is active in the sugar refining, flour milling, and animal feed businesses.
This deal, which will increase the company’s presence in the West African grain space, now sees Seaboard operate grain businesses, including 18 wheat flour milling operations in 41 locations across 22 countries in Africa, South America, and the Caribbean. The deal also lifts Seaboard’s flour and feed milling capacity by 15 percent to more than 22,000 tons per day, and lifts its grain trading volume by 9 percent to 10.5 million tons per day.
The company has plans to expand grain storage capacity at the mills in Abidjan and Dakar, and increase the level of vertical integration in the business.