Nidera Australia acquired the remaining 49% shares of PentAG Nidera

Australian Toowoomba based agricultural commodity trader PentAG Nidera will now be known as Nidera Australia Pty Ltd, following the sale of all minority interests to the majority shareholder, Rotterdam based agribusiness Nidera.

Nidera has held up to 51 per cent of PentAg Nidera for several years and has now purchased the remaining 49 per cent of the company from Toyota Tsusho and a number of Australian shareholders who co-founded the business in 2005.

PentAG CEO Dave Lengren said that the ownership change is a natural progression as the company continues to grow and highlighted that there will be no change in day to day operations or existing contractual arrangements with clients.

“While we will continue to focus very strongly on servicing our core grower and consumer clients in Queensland, New South Wales and some areas of South Australia and bolstering our position as the largest exporter of sorghum from Australia, we will now move forward with plans to expand our origination and trading footprint into other key production regions around the country,” Mr Lengren said.

“It’s an exciting development that will provide a dynamic blend of local knowledge and experience together with the strength, size and security that comes from the full backing of an international commodity trading business that Nidera provides.

“Nidera is majority owned by Chinese food processing company COFCO, providing direct access to the fast growing Chinese market and to COFCO’s downstream processing and distribution capabilities. Importantly this comes at the same time Australia is moving to strengthen trade links with China through the recently signed FTA.

“Nidera has long been a major player in all major international demand regions across the globe and in particular Asia. This has already allowed PentAG to grow and develop important export markets, particularly into China for sorghum. The Nidera – COFCO connection will now accelerate that development even further and faster.”