Gavilon, LLC Completes Acquisition of DeBruce Companies
Third-largest grain storage network will manage more than 300 million bushels of capacity nationwide
Omaha, Neb. (Jan. 3, 2011) – Gavilon, LLC today announced that it completed the acquisition of the DeBruce Companies, expanding the company’s agricultural assets in the U.S. and Mexico. The transaction increases the company’s licensed grain storage capacity to more than 300 million bushels, making it the third-largest grain storage network in North America.
Paul DeBruce will continue serving as chief executive officer of the DeBruce Companies, a wholly owned subsidiary of Gavilon,and join Gavilon’s board of directors. Larry Kittoe will also continue serving as chief operating officer of the DeBruce Companies. Upon the closing of the transaction, DeBruce and Kittoe were also appointed executive vice presidents of Gavilon.
The addition of the DeBruce Companies’ grain, ingredient and fertilizer facilities and distribution network will complement Gavilon’s North American footprint and position the company to meet the rapidly growing demand for agricultural resources worldwide. The combined company will leverage best practices across the organization to enhance its ability to compete as one of the leading commodity management firms.
About Gavilon, LLC
Gavilon, LLC is a subsidiary of The Gavilon Group, LLC. Headquartered in Omaha, Nebraska, The Gavilon Group, LLC is a leading commodity management firm, connecting producers and consumers of feed, food and fuel through its global supply chain network. Gavilon’s history dates back to 1874, when Peavey Company built its first grain facility. In 1982, Peavey was acquired by ConAgra Foods, Inc. and later became part of ConAgra Trade Group. In 2008, a group of investors, led by Ospraie Management, LLC, formed Gavilon and acquired ConAgra Trade Group, enabling the newly formed, privately held company to focus on growing its commodity business. Today, Gavilon leverages its strategic partnerships and more than 300 facilities and regional offices worldwide to link agricultural and energy supply with increasing global demand. The company provides origination, storage and handling, transportation and logistics, marketing and distribution, and risk management services to tens of thousands of customers each year and employs more than 1,700 people around the world. For more information, please visit www.gavilon.com.