The largest flour mill in the US has just gotten even bigger after the US Department of Justice approved of merger plans, say reports.
Top flour mill Horizon Milling, a joint venture of Cargill and CHS, will merge with ConAgra Foods in a transaction that will reportedly create a company with more than $4 billion in annual sales. The deal, which will merge the companies’ operations across North America, was only approved once concessions were agreed upon, however.
According to reports, the parties agreed to divest four flour mills and sell them to a US-based unit of Nisshin Flour Milling, based in Japan.
The companies issued a joint release announcing the progression of the merger and said they expect to begin operations as a new company by the end of the month.
Full content: Reuters
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