Viterra Inc.

Viterra Inc.

November 08, 2011 13:00 ET

Viterra Acquires Imperial Oil's Prairies Commercial and Farm Fuel Distribution Business

CALGARY, ALBERTA--(Marketwire - Nov. 8, 2011) - Viterra Inc. (TSX:VT) (ASX:VTA) ("Viterra") and Imperial Oil ("Imperial Oil") today announced an agreement that will see Viterra enter the commercial and farm fuel market in Manitoba, Saskatchewan and Alberta, Canada.

Viterra will acquire bulk fuel assets, and has entered into a long-term agreement to serve as a branded reseller, hauler and cardlock operator of Esso fuels throughout parts of Canada's Prairie region.

Viterra operates an extensive network of full-service agri-business outlets throughout western Canada, and the Imperial Oil assets are strategically located within Viterra's Manitoba, Saskatchewan and Alberta service areas.

"Fuel is a natural extension to Viterra's service offerings and business model. Viterra can now provide this essential product line to our customers and bundle it with financing options to assist growers with their seasonal cash flow needs," said Doug Wonnacott, Viterra's Chief Operating Officer for Agri-products.

"Imperial Oil is pleased to have forged this new relationship that will see Viterra become a branded reseller of Esso fuels to industrial and commercial customers on the Prairies," said Brad Merkel, Vice-President and General Manager, Fuels Marketing, Imperial Oil. "We are confident that the combined strengths of Viterra and Imperial Oil will bring additional value to customers of both companies."

The agreement was signed following a selection process by Imperial Oil and successful due diligence conducted by Viterra. Pending completion of the customary closing requirements, the transaction is effective on or about December 1, 2011, with integration to follow.

About Viterra Inc.

Viterra provides premium quality ingredients to leading global food manufacturers. Headquartered in Canada, the global agribusiness has extensive operations across Canada, the United States, Australia, and New Zealand. Our growing international presence also extends to offices in Japan, Singapore, China, Vietnam, Switzerland, Italy, Ukraine, Germany, Spain and India. Driven by an entrepreneurial spirit, Viterra operates three distinct businesses: grain handling and marketing, agri-products, and processing. Viterra's expertise, close relationships with producers and superior logistical assets allow the Company to consistently meet the needs of the most discerning end-use customers, helping to fulfill the nutritional needs of people around the world.

Contact Information

  • Viterra Inc.
    Peter Flengeris
    Media Relations
    (306) 569-4810

    Imperial Oil
    Media Line
    (403) 237-2710