Mannheim (ots) - Bunge Deutschland GmbH, a subsidiary of Bunge Limited (NYSE:BG) (“Bunge”), today announced the acquisition of the majority stake in Walter Rau Neusser Öl und Fett AG (“WRAG”)from Cremer Group, a German holding company.
April 21, 2016 – 3:10 p.m., Bunge Limited GmbH
By purchasing all stocks that are presently still held by Cremer Group, Bunge will hold a 62.8% stake in Walter Rau AG. The transaction will presumably be completed within the next months and will be subject to the usual acquisition conditions. Financial details have not been disclosed.
At its works in Neuss, Walter Rau AG produces edible oils and fats from oilseeds, e.g. rapeseeds and sunflower seeds. Walter Rau’s range of products comprises customised products featuring specific functional properties in order to meet the individual requirements of industrial food producers and the catering industry.
Tommy Jensen, CEO Bunge EMEA: “Within the scope of this acquisition, we can effectively deploy our comprehensive knowledge as well as the area-wide infrastructure in the field of processing oilseeds and thus expand our product range. Food producers and the catering industry all over the world rely on solutions by Bunge. This is why we are glad to combine the business potential of Walter Rau AG and the Bunge network to continuously diversify our business in Europe and on a global scale.”
William Dujardin, Bunge EMEA VP Food & Ingredients, adds: “The customers appreciate Walter Rau AG as a food expert with a strong corporate culture. We appreciate the opportunity to build on this foundation jointly with the WRAG staff and to further intensify customer relationships by offering reliable and innovative products.”
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