World Grain - November 2010 - 65

FEATURE: A POWERFUL SIGNAL

that no DeBruce offices will be closed.
The commitment to building their
respective businesses has been demonstrated in steps each company has
taken during the past several months.
DeBruce has embarked on a number of
expansion projects at various locations,
and Gavilon has announced acquisitions
both domestically and overseas.
"Actions speak louder than words,"
DeBruce said. "We believe in the grain
business. We have additional projects
we plan to announce over the next 30 to
60 days."
Heckman said the DeBruce acquisition
should not be viewed as strictly a domestic acquisition per se and instead should be
seen as an important part in the company's
worldwide expansion.
"North America is a sizable, important
market globally," he said. "When there
is a wheat problem, who is ready to step
in? The United States has the storage infrastructure, production capabilities, lowcost transportation infrastructure, the rule
of law, effective markets, banking and
finance resources, contract integrity. The
United States will remain the key residual
supplier of world grain.
"It is important, but it is part of a
global platform. We will build globally
as well. We will focus around grain origination locations such as Perth (Australia). We've opened an ocean freight office in Geneva (Switzerland). There is
more to come on that."
Still, Heckman said benefits from the
DeBruce transaction are anything but
limited to exports.
"We are focused on helping grain
customers manage price risks, logistical
risk," he said. "Again, we don't compete
with customers. That has resonated in
the marketplace. And there is a benefit
of our having been part of ConAgra.
We understand the challenges of margin
management at a processing company.
That we've walked a mile in their shoes
helps us relate to them."
While all the executives emphasized
the long-term focus of the respective
and combined companies, Gavilon's
non-management owners are private

equity firms (Ospraie Special Opportunities Fund, General Atlantic and Soros
Fund Management), raising questions
about what will become of the grain
business in the years ahead.
Heckman was non-committal when
asked whether an initial public offering
may be in Gavilon's future.
"We will look at all alternatives to

source capital for growth," he said. "But
they have and continue to demonstrate a
long-term focus."
Josh Sosland is editor of Milling & Baking News,
World Grain's sister publication. He can be
reached at jsosland@sosland.com.
We want to hear from you - Send comments and
inquiries to worldgrain@sosland.com. For reprints of
WG articles, e-mail reprints@sosland.com.

vENAR

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Tel
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67


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World Grain - November 2010

Table of Contents for the Digital Edition of World Grain - November 2010

Contents
World Grain - November 2010 - 1
World Grain - November 2010 - 2
World Grain - November 2010 - 3
World Grain - November 2010 - Contents
World Grain - November 2010 - 5
World Grain - November 2010 - 6
World Grain - November 2010 - 7
World Grain - November 2010 - 8
World Grain - November 2010 - 9
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http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_01
http://digital.world-grain.com/sosland/wg/2004_09_01
http://digital.world-grain.com/sosland/wg/2004_08_01
https://www.nxtbookmedia.com