Greene County facility part of Bunge milling business divestiture
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St. Louis-based grain and soybean manufacturer Bunge Global is planning to sell its North American dry corn masa milling business unit to Grain Craft, an independent flour miller headquartered in Chattanooga, Tennessee.
The deal includes several Bunge facilities, including a grain mill in the Greene County town of Worthington.
The other facilities included in the sale are located in Illinois, Nebraska, Iowa, Texas, Kansas, and Mexico. A spokesperson for Bunge said the milling business unit employs a total of 580 people, though it was unclear how many work in Indiana.
“We carefully considered how this regional business fits with our long-term plans and made the strategic decision to focus on other areas of our core business that are more strongly connected to our global value chains,” Bunge Co-President of Agribusiness Julio Garros said in a news release. “We are grateful for the hard work and dedication of our milling team and their commitment to running the business safely, and efficiently while delivering high-quality products to our customers.”
Financial terms of the sale are not being disclosed.
The sale remains subject to regulatory approval and customary closing conditions. The spokesperson declined to provide an estimated timeline for the deal to be completed.
Bunge will continue to manage its operations in Indianapolis and Decatur. The company is also expected to complete construction of a $550 million soybean processing facility in Morristown this year.
The acquisition of the Worthington facility will mark Grain Craft’s first foray into Indiana.