Elián Barcelona, a subsidiary of Viserion Oilseed Processing, has reached an agreement with Cargill to acquire its soybean crushing facility located at the Catalan capital's port. This is strategic infrastructure in a supply chain that serves the feed and food ingredients sectors in this autonomous region, as well as throughout Spain and the rest of Europe.

The new owner plans to expand the plant's capabilities. The aim is to produce a wider range of innovative, sustainable feed and food ingredients through concentration and textured protein, two items that are key in supporting the distribution of farm-to-table products in European and Mediterranean markets.

New jobs
In line with the projected growth, Elian Barcelona is not only committed to retaining all its current staff, but also plans to create new jobs as the plant's production activities increase. The transaction is subject to regulatory approval from the Barcelona Port Authority, and is expected to be completed in the first quarter of 2024.

Viserion Oilseed Processing is a subsidiary that manages the strategic oilseed processing operations of Viserion International Holdco, a global agricultural merchant based in Boulder, Colorado (USA). The transaction has been backed by Pinnacle Asset Management, a New York-based alternative asset management firm.

Resilience and sustainability
Founder and General Manager of Elian Barcelona Andrés Martín thanked Acció for its support, and said that he was delighted to “acquire and advance this important Catalan processing plant as we build a more resilient food system across Europe”. He also explained, “Sustainability is our core foundational value, and we believe that this strategic asset – coupled with Viserion’s scale, resources and expertise – will allow us to better align our services with consumers and food system trends, enhance European food security, and resist supply chain disruptions”.

Viserion International CEO Aaron Wiegand added, “The acquisition of this strategically located plant, which is integral to Catalonia's food supply, deepens Viserion International's long-term commitment to the European market. We look forward to leveraging our strong US infrastructure and dedicated, experienced team to expand the Viserion platform both organically and opportunistically, and to further grow our international grain and food product handling and trading business.”

Jason Kellman, Managing Partner and Chief Investment Officer at Pinnacle, did in turn say, "We believe that the addition of this crushing facility is a compelling opportunity to expand the Viserion platform and accelerate its continued investment in the critical European feed and food product supply chain. Pinnacle welcomes the Elian Barcelona group and looks forward to continuing to support the Viserion team by sharing our deep sector expertise and years of experience in managing physical commodities and commercial businesses”.