Pinnacle Asset Management-Backed Viserion Grain to Acquire 11 Elevators from Zen-Noh
Viserion Grain, a subsidiary of Pinnacle Asset Management-backed Viserion International Holdco, has entered into an agreement to acquire 11 grain elevators from Zen-Noh Grain Corporation. Zen-Noh is divesting the 11 facilities in connection with a proposed deal to acquire a number of grain elevators from Bunge.
Situated throughout five U.S. states along the Mississippi and Ohio Rivers, the 11 elevators which have a combined storage capacity of about 25 million bushels are located in Huffman, Arkansas; Osceola, Arkansas; Helena, Arkansas; McGregor, Iowa; Savanna, Illinois; Shawneetown, Illinois; Lake Providence, Louisiana; Lettsworth, Louisiana; Caruthersville, Missouri; and Cottonwood Point, Missouri.
For Viserion, the deal will significantly increase the company’s holdings along major U.S. inland waterways, accelerating its growth and building a strong foundation through which to market grains and oilseeds to both domestic and international customers.