GrainCorp has entered into an agreement to sell its Australian Bulk Liquid Terminals business to ANZ Terminals for approximately $350m.
The Australian Bulk Liquid Terminals business was acquired by GrainCorp in 2012 as part of the acquisition of Gardner Smith. It operates eight liquid terminals sites across Australia, with a combined storage capacity of approximately 211,000 cbm. The sites specialise in the storage and handling of bulk liquid fats & oils, fuels and chemicals for a range of customers, including GrainCorp Oils. As part of the transaction, GrainCorp Oils will enter into a long-term storage agreement with ANZ Terminals.
Sam Tainsh, Group General Manager, GrainCorp Oils said: “ANZ Terminals is an established and respected bulk liquid terminals operator. We will work with ANZ Terminals to ensure a smooth transition for our customers and our people and through the long-term storage agreement we will have the access required for our trading and liquid feeds businesses.”
GrainCorp has retained ownership of its New Zealand bulk liquid terminals, which are more fully integrated into its supply chain, however, it is independently reviewing options for this business as part of the ongoing Portfolio Review.
For more information visit www.graincorp.com.au