A deal agreed in principle in September 2017, between the Monaco-based Mimran Group and Seaboard Corp, has been finalised.
Seaboard has acquired Mimran Group’s flour milling and associated businesses in Senegal and Ivory Coast, and its grain trading business based in Monaco, bakingbusiness.com and other grain trade media report. No price has been made publicly available.
Seaboard Corp was already a major player in the African milling industry and its acquisition will increase its flour and feed milling capacity by approximately 15 percent, to more than 22,000 tonnes per day, and its grain trading volume by approximately nine percent, to about 10.5 million tonnes per year.
Steven Bresky, Seaboard’s President and Chief Executive Officer said: “Seaboard has had commercial ties with the Mimran Group for almost 40 years and we look forward to integrating the business into our existing trade strategy and expand our cargo and trade opportunities as a result of this transaction. We expect to continue to work closely together with the Mimran Group by leveraging our existing strengths into a better industrial and trade-based business.”
The Mimran Group has been one of the leading agri-food groups in West Africa, operating sugar refining, flour milling and animal feed businesses. It was founded more than 60 years ago by the Mimran family, and its main companies in flour milling and sugar refining include Grands Moulins de Dakar, Grands Moulins d’Abidjan, and Compagnie Sucriere Senegalaise.
Jean Claude Mimran, the Group’s president, was born in 1945 and has been described as the Sugar King of Africa. The Monaco-based Mimran Group was reported to be the second-largest employer in Senegal after the government. A Swiss resident, Mimran is worth two billion Swiss francs (€1.7 billion), according to Swiss business magazine Bilanz.