Louis Dreyfus Company, a French merchant firm that is involved in agriculture, food processing, international shipping, and finance, offered to acquire a majority stake in Namoi Cotton, a cotton ginning company, for $81m. "The proposed transaction reflects LDC’s long-term commitment to growing with Australia, promoting sustainable agricultural practices, supporting farming communities and contributing to local economic growth. The addition of Namoi Cotton into our Australian cotton operations also aligns with LDC’s global strategy to reinforce its leadership in core merchandizing activities – in this case by strengthening our service to local cotton farmers, through an expanded ginning and logistics footprint,” Joe Nicosia, Louis Dreyfus Company Head of Cotton.