ETG Commodities is increasing into Manitoba’s edible bean market with the acquisition of Globeways Canada’s bean processing facility in Plum Coulee.
The deal, introduced March 15, comes after Globeways Canada, and its subsidiaries Canpulse Meals Ltd. at Kindersley, Saskatchewan and International Grain Canada Ltd. at Plum Coulee, entered into receivership in November 2020.
“The Plum Coulee facility will support ETG North America’s growth and leadership in the rapidly expanding market for dry edible beans,” says Rav Kapoor, CEO of ETG North America. “The acquisition further strengthens ETG as a global leader in pulse and specialty crops processing and bolsters the company’s processing capacity for dry edible beans to facilitate added growth in its key markets.”
ETG has been concerned within the pulse crop market in Canada for practically a decade, primarily buying lentils and peas by amenities in Saskatchewan at Swift Present, North Battleford, Success, and Minimize Knife. Some of these belongings had been acquired by the dispersal of former pulse processor Ilta Grain in 2019.
The Plum Coulee plant, which was constructed and operated below native possession earlier than the sale to Globeways in 2017, is succesful of sourcing and processing all kinds of edible beans, together with pintos, black beans, navies, nice northerns, white kidneys, gentle purple kidneys, darkish purple kidneys, and cranberry beans. ETG has already listed pricing for each outdated and new crop.
ETG Commodities is the North American subsidiary of Tanzania, Africa-based agricultural conglomerate Export Buying and selling Group. It was based in Kenya in 1967.
Monetary phrases of the ETG acquisition haven’t been disclosed.