Viterra to divest North American feed assets

Wed Feb 15, 2012 8:42am EST
 
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TORONTO, Feb 15 - Viterra, the Canadian grain handler that has seen slowing profits amid global financial volatility, said on Wednesday it was divesting all of its North American feed assets.

Calgary-based Viterra said it was selling the assets - including six feed mills and one pre-mix manufacturing facility in Canada and six feed mills and a commodity blending site in the United States - to Hi-Pro Feeds LP, owned by the existing management team and Birch Hill Equity Partners.

It gave no price.

Viterra VT.TO last month reported lower profit than expected for the quarter, weighed down by increased costs at its grain handling facilities and fierce competition in the feed market.

(Reporting By Pav Jordan; Editing by Janet Guttsman)