Parrish & Heimbecker to acquire GrainsConnect from GrainCorp and Zen-Noh Grain for CAD150m.

Parrish & Heimbecker, a family-owned agri-business, agreed to acquire GrainsConnect, a Canadian company specializing in the supply chain of grains, from GrainCorp and Zen-Noh Grain, the joint venture partners of GrainsConnect, for CAD150m. “This transaction reflects GrainCorp’s ongoing commitment to portfolio optimisation and our readiness to rationalise assets where necessary to improve returns. Divestment of GrainsConnect allows GrainCorp to focus on alternative value-creating opportunities that are in the best interests of our shareholders," Robert Spurway, GrainCorp Managing Director and CEO.