Developments

Axereal raises €150m to develop its malting and food processing businesses

07/07/17

Axereal raises €150m to develop its malting and food processing businesses

Axereal Group, Europe’s leading cereal collector and the world’s fifth-largest maltster, announced on 5 july 2017 that it had raised €150m to finance its growth projects. To raise these funds, two financial investors, Temasek and Unigrains, and minority shareholder Tereos subscribed to a capital increase of the group's malting subsidiary.

This growth primarily concerns the Group’s malting business unit. Axereal subsidiary Boortmalt’s strategy is to support its brewer and distiller customers as they grow, by increasing its production capacities, boosting volumes exported from Antwerp and becoming directly involved in producing barley and malts in fast-growing geographies such as Africa and Asia.

The involvement of investors focused on emerging markets will be a concrete advantage as we take our growth projects forward. Singapore-headquartered Temasek, and Unigrains, specialized in the agri-food sector, bring proven expertise on the valorization of our malt business and in accessing international markets, most notably in Asia.

said Boortmalt CEO Yvan Schaepman.

“Our aim is to reinforce our cooperative Group, which is made up of two pillars, agriculture and food processing, by further adding value through downstream processing activities. Axereal can now pursue its growth targets and continue to offer its cooperative members a secure and efficient service, without losing its place as majority shareholder. By investing in food processing, we are both ensuring access to the cereals and barley market for our members and creating value,” said Axereal Chairman Jean-François Loiseau.