World Grain - December 2020 - 10

NEWSREVIEW

Louis Dreyfus sells 45% stake to
Abu Dhabi-based ADQ
ROTTERDAM, NETHERLANDS - Louis Dreyfus Company
(LDC), one of the world's largest grain traders and processors of
agricultural products, announced on Nov. 11 that it has agreed
to sell a large stake in the company to Abu Dhabi-based holding
company ADQ.
The main Louis Dreyfus Company Holdings BV (LDCH)
business will sell a 45% equity stake in the LDC unit, the comSDQLHVVDLG,WPDUNVWKH¿UVWWLPHLQWKHSULYDWHFRPSDQ\¶V
year history that it will operate with ownership outside the family.
" The transaction announced today constitutes a milestone
in a decade-long strategy envisioned by the supervisory board,
which started with the consolidation of LDC's parent company's
shareholding, " said Margarita Louis-Dreyfus, chairperson of
the supervisory board of LDCH. " We are delighted to welcome
ADQ to our shareholder group as long-term partners and investors, with a common vision for LDC's future, and experience that
will bring further value to the business and support the Group's
ambitions. "
The transaction price was not disclosed but the companies said
a minimum of $800 million will be invested into LDC.
ADQ's broad portfolio of major enterprises spans multiple sectors, among them food and agriculture. As part of its strategy for
WKHVHFWRUWKHFRPSDQ\VHHNVWRJHQHUDWH¿QDQFLDOUHWXUQVDQG
strengthen the economic cluster in the UAE.
" As one of the world's leading agri-commodities and food

companies, LDC represents a strategic investment opportunity
for ADQ, in line with our long-term food and agriculture investment strategy, " said H.E. Mohamed Hassan Alsuwaidi, CEO of
ADQ. " We share LDC's vision for future growth of the business,
and look forward to partnering with LDC's existing shareholders and management team to capitalize on the sector's emerging opportunities, by accelerating LDC's transformative growth
strategy to move toward greater value chain integration - from
producers to consumers. "
The agreement with LDC also will see ADQ sell agricultural
commodities to the United Arab Emirates, the companies said.
Michael Gelchie, CEO of LDC Group, said the company's
strategy is to " leverage global consumption trends through investments in new business opportunities, as the company embraces more of the agricultural value chain to become an increasLQJO\LQWHJUDWHGIRRGIHHG¿EHUVDQGLQJUHGLHQWVFRPSDQ\´
" With a shared ambition for investment in innovations and
technologies that can transform food and agricultural production,
the investment potential created by the long-term partnership
with ADQ brings additional strength to the pursuit of LDC's strategic growth plans, building on the strong performance delivered
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/'&SRVWHGVWURQJHDUQLQJVUHVXOWVLQWKH¿UVWKDOIRIDVLW
QDYLJDWHGJOREDOFKDOOHQJHVVXFKDVWKHFRURQDYLUXV&29,'
pandemic, trade tensions and market uncertainty.

Hopkinsville Milling hires new plant manager
HOPKINSVILLE, KENTUCKY, US -
Jim Hargett has joined Hopkinsville Milling
Company as plant manager. He will be
overseeing the operation of the mill and will
report to Robert Harper, president.
Hargett said some of his goals for the
mill are to push it toward a more automated
facility with less hands-on involvement by
Hargett
the operators, and to institute a preventive
maintenance program.
Harper said Hargett was attractive to the company because
he ran an operation that had very little down time, which is
LQFUHDVLQJO\LPSRUWDQWDVWKHPLOOEHFRPHVDKRXURSHUDtion. Harper also said Hargett's extensive knowledge of the
industry will provide a perspective that Hopkinsville Milling

QHHGVDORQJZLWKKLVH[SHULHQFHZRUNLQJIRUGL൵HUHQWPLOOLQJ
companies with strong training programs.
³:HDUHH[SHFWLQJWKDWKHZLOOPDNHXVDQH൶FLHQWKRXU
¿YHWRVHYHQGD\DZHHNRSHUDWRU´+DUSHUVDLG
Prior to joining Hopkinsville Milling, Hargett was the
plant manager for Star of the West Milling Co. in Quincy,
Michigan, US, a soft wheat miller. Earlier he worked for Food
Protection Services, a service group for food plants, providing
pest control and fumigation services, and he worked as a shift
supervisor for U.S. Durum Mills in St. Louis, Missouri, US,
an Italian-owned durum mill that makes semolina for pasta.
+DUJHWWVWDUWHGKLVPLOOLQJFDUHHULQDW0HQQHO0LOOLQJ
in Fostoria, Ohio, US, packing bags on second shift while he
completed classes at the local community college during the
GD\+HOHIWDVKHDGPLOOHULQDIWHU\HDUV

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World Grain - December 2020

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