Wednesday 23 November 2022

France-based grain handler BZ Group and US-based atribusiness and food company Bunge (NYSE: BG) have signed a strategic partnership, the companies said.

As part of this agreement, Bunge acquires 49% of BZ Group while the Beuzelin family remains the majority shareholder with 51% ownership.

The transaction is subject to customary closing conditions and regulatory approval.

The BZ Group, located in Normandy, France, originates products from a large network of independent farmers and also sources grains, oilseeds and pulses from suppliers in the northwest of France to export to its customers via its port terminal in Rouen.

Bunge said it has developed a strong relationship with BZ over the years. The decision to combine BZ's expertise in the French market with Bunge's global reach is the natural evolution of this long-term relationship.

This partnership is expected to strengthen operational and commercial cooperation in an increasingly volatile and demanding market environment. It will also provide the opportunity to expand the facility in the port terminal in Rouen, the largest cereal export facility in Western Europe.