Neste feedstock-footprint expansion continues with plans to acquire US-based Agri Trading
Global renewable diesel and sustainable aviation fuel producer Neste Corp. announced Sept. 7 plans to acquire 100 percent of Agri Trading, a large, independent, Minnesota-based fats and oil trader. According to Neste, Agri Trading manages all aspects of transportation, logistics, transloading and export services.
The move is the company’s latest feedstock-expansion effort following the acquisitions of IH Demeter, Bunge Loders Croklaan, and Count Terminal in the Netherlands, and U.S.-based Mahoney Environmental.
“Together with the previously announced acquisitions … Agri Trading will also enhance Neste’s competitiveness in the global waste and residue raw material market,” Neste said.
Peter Vanacker, president and CEO of Neste, said the acquisition of Agri Trading strengthens the company’s global feedstock sourcing as well as its U.S. footprint. “Agri Trading complements our previous acquisition of Mahoney Environmental in the United States with its wide trading network of renewable raw materials compounded with efficient logistics,” he said.
The deal, not yet finalized, is subject to regulatory approval and customary closing conditions.