InVivo completes United Malt acquisition

1st December 2023 | Company News, Crops, Grain Trading

Malteries Soufflet, a subsidiary of the French agribusiness cooperative InVivo, has completed its AUS$1.5 billion takeover of Australia’s United Malt, following regulatory clearances in its markets. The deal, which creates the world’s largest maltster, includes the Bairds Malt and Scotgrain businesses in the UK.

The takeover bid was first made in April this year and agreed by the United Malt board in July. Malteries Soufflet has acquired 100% of the United Malt Group, funded by InVivo and the minority shareholders in Malteries Soufflet – KKR, Bpifrance and the Crédit Agricole Group. United Malt was formed in 2020 through a demerger from Australian multinational agribusiness GrainCorp.

The combination of the world’s second and fourth largest maltsters creates a company with a 50% greater total global annual production capacity than before at 3.7 million tonnes of malt. Its new owner says the new global malt platform, which now comprises 41 facilities in 20 countries, is ideally positioned to further invest in more sustainable products and operations. The deal combines the complementary assets of the two companies in terms of geographical footprint and business segments.

The new entity will be able to take advantage of the expansion of the international malt market, while meeting increasingly specific customer demands for malt quality, carbon footprint reduction and sustainability. It envisages the further development of sustainable, local, low-carbon and positive impact barley-malt production chains throughout the world.

Thierry Blandinières, chief executive of the InVivo Group and chairman of Malteries Soufflet says the deal “illustrates InVivo Group’s commitment to making malt one of the central pillars of our business by strengthening the position of Malteries Soufflet as a world leader in the sector”.