Cargill selling off malt business

Cargill has entered into an agreement to sell its global malt business to Boortmalt, the malt subsidiary of Axéréal, one of France’s leading cereals cooperative groups specializing in the growing and processing cereals for the brewing, baking and livestock industries. The transaction, which includes 15 facilities on four continents, is subject to information and/or consultation procedures with the appropriate employee representative bodies. Expected to close in the second half of 2019, the deal also will be subject to regulatory and other approvals.