Soybean processor Ceresco sold to Quebec interests
By Transit BD Inc.
SG Ceresco (Ceresco), a Canadian leader in soybean processing, is being sold to Quebec interests. The company is owned by co-founders Thierry Gripon and Mireille Raymond, and the closing of the transaction is subject to certain customary closing conditions.
Purchasers Transit BD and Alain Létourneau Holdings will continue the company’s export sales activities in food grade soybeans, as well selling non-GMO soybean seeds to Canadian farmers. Thierry Gripon will remain as leader of the international soybean sales team and Mireille Raymond will be responsible for operational management until a new General Manager is in place.
"We are very pleased to have concluded this transaction with the founders of the company. Ceresco has a significant international development potential and we are very enthusiastic about further developing this Quebec jewel," says Transit BD shareholder Pierre Dagenais.
"Ceresco possesses an excellent customer base of soybean producers with whom we can build the future. We are particularly pleased to continue the work of the founders who have built this fine company over the last 30 years," adds Alain Létourneau.
Ceresco’s Thierry Gripon states: "We are convinced that the new group of shareholders will be successful in carrying out projects and the future destiny of the company. We have put in place a strong management team that will support the new owners. We are particularly proud to have built this beautiful company with our employees, soybean producers and international customers. We both pass on, Mireille and I, a wonderful project that we have successfully completed."