- By Lynda Kiernan-Stone, Global AgInvesting Media
Scoular Completes Acquisition of Legumex Walker’s Special Crop Division
U.S.-based grain company, Scoular, has announced the completion of the acquisition of the entirety of the assets of Legumex Walker Inc.’s Special Crops Division for C$94 million plus net working capital at closing. Scoular agreed to the acquisition of the global processor and merchandizer of pulses, special crops, and healthy and specialty food ingredients in September, however, with the finalization of the deal, Legumex Walker Inc. has now changed its name to LWP Capital Inc.
The deal includes 14 primary and value added specialty crop processing sites across Canada, the U.S. and China that process and handle a variety of crops including edible beans, pulses, lentils, sunflower seeds, flaxseed, canaryseed, and split peas, along with nearly 300 employees and the Specialty Crop management team.
"We've been looking to enter the special crops market for some time, and we're thrilled to finalize the purchase of a business that brings a wealth of special crops experience and expertise to our growing company," said Chuck Elsea, Scoular's Chief Executive Officer in a company press release. "We will invest additional resources to expand the business and pursue opportunities that result in more value for growers and a high-quality, reliable supply of specialty products for customers around the globe."
Following the closing of the acquisition, Scoular will have more than 120 offices and facilities across Canada, Mexico, Argentina, Brazil, Uruguay, China, and Singapore that source, process, and distribute grains and oilseeds, and specialty foods and feed ingredients.