REGINA – Alliance Grain Traders Inc. said Tuesday it is expanding into the Australian chickpea and pulse market through its $8-million acquisition of Canz Commodities.
The assets are located in Narrabri, about 500 kilometres northwest of Sydney, and include real property, storage and related handling equipment, as well as a plant to process grains and pulses.
The $8-million pricetag includes the cash acquisition price, as well as a budget for improvements. An expansion and improvements to the facility are expected to begin right away.
Alliance’s Australian subsidiary will operate the assets.
The Narrabri facility has direct rail access to the port of Sydney.
The assets in the state of New South Wales compliment Alliance’s existing assets in Victoria and South Australia, said chief executive Murad Al-Katib.
"The variety of pulses grown here, especially the mix of desi and kabuli chickpeas and beans goes a long way in solidifying our diversified global origination strategy focusing on production regions and the full range of pulse products to our global distribution channels," he said in a statement.
"Australia is becoming a leader in the production and export of pulses, especially pulses like desi chickpeas, faba beans and mung beans that we do not grow or see limited production in many of our other origins."
Regina-based Alliance (TSX:AGT) is a pulse processor and exporter with offices in Canada, the United States, Turkey, Australia, China, the United Kingdom, the Netherlands and Spain.
Deprecated: strpos(): Passing null to parameter #1 ($haystack) of type string is deprecated in /home/agriviek8Qv/agriviet.net/public_html/wp-includes/comment-template.php on line 2522