Bunge enters agreement to acquire port-based refinery in Louisiana

Bunge, through its Bunge Loders Croklaan JV with IOI Corporation Berhad, has entered into a definitive asset purchase agreement with Fuji Oil New Orleans, to acquire its newly constructed, port-based refinery located in IMTT’s Avondale Terminal, Louisiana. The facility has multi-oil refining capabilities and will enable Bunge to expand its existing customer base. The completion of the transaction is subject to customary closing conditions. This transaction will provide Bunge with a scalable, complementary port-based footprint capable of connecting North American food, feed and fuel customers to global markets. Bunge expects to serve customers with the newly acquired capacity starting in the second quarter.