Commodities producer The Gavilon Group has enlisted Sard Verbinnen & Co. to support its $3.6B acquisition by Japanese trading house Marubeni Corp.
Gavilon, based in Omaha, is privately held after its purchase from ConAgra Foods in 2008 and is the No. 3 grain distributor and trader in the U.S. It works the gamut of the grains, fertilizer and energy commodities sectors from origination and storage to transport and marketing.
Marubeni said in a statement May 29 from media relations general manager Hirokazu Iwashima that it made the move with expectations that global grain trade volumes will continue to climb on strong Asian demand, particularly in China. It will also bolster Marubeni’s status as the No. 2 agricultural production products retail business in the U.S.
Gavilon also has an energy trading business in oil, natural gas and other fuels.
Sard Verbinnen managing directors Jonathan Gasthalter and Sarah Brown are handling communications for Gavilon regarding the deal.
"We are pleased that our strategic review process has resulted in an agreement to become a wholly owned subsidiary of Marubeni,” said Gavilon president and CEO Greg Heckman, in a statement.
The deal is expected to close in September.