Consolidated Grain and Barge (CGB), Mandeville, La., has announced it has entered into an agreement to purchase the Savage, Minn., grain storage facility from Riverland Ag Corp., a 100 percent owned subsidiary of Ceres Global Ag Corp. The transaction is expected to close by the end of June, 2014, and is subject to the satisfaction of certain conditions and relevant regulatory approvals.
Plans are underway by CGB Fertilizer, a division of CGB, to construct a bulk fertilizer warehouse with inbound barge and outbound rail and truck capabilities at this location to support CGB Fertilizer’s expanding sales and distribution system.
CGB oversees a diverse family of businesses providing an array of services which includes grain merchandising, fertilizer trading, transportation, processing, bulk handling, financing, crop insurance, and logistics services for a global base of customers.