$ 8.2B fulfills us the merger of Vitra and Banj now

The merger of $ 8.2 billion American Banj and Vitra is now complete, one of the world’s largest agricultural business companies.

The deal was confirmed on Wednesday in a news release issued by Missouri-based Banj. Nearly six months after the Canadian government approved the merger with Vitra, which was previously known as Suskechewan wheat pool.

The deal was severely criticized by agricultural producers, who are afraid that it would reduce competition in grains and canola markets.

The fear was detailed in a report released by the Competition Bureau in April 2024, which found that the deal is likely to hurt competition in markets.

It was also found that the world’s largest oilseed processing company Banj, the G3, could affect the behavior of global holdings, a major competitor for Vitra.

Transport Canada says that the G3 requires strict and legally binding control over a US-based minority ownership stake, to ensure that it cannot affect the company’s pricing or investment decisions.

The restrictions on merger by Ottawa have committed to maintain Vitera’s head office in Regina for at least five years and invest at least $ 520 million in Canada within the next five years.

According to a media release, Banj CEO Greg Hekman said that the merger creates a more strong outfit with increased abilities and expertise.

As part of the new structure, former Vitra CEO David Matisk now acts as a co-main operation officer in the executive team of Banj. He connects to Julio Garos, who previously played the role of co-chairman of Banj.

Viterra operates more than 80 grain-handling facilities across Canada.