Bartlett finalizes US$140M acquisition of Ceres Global Ag Corp
The deal was finalized through a wholly owned Bartlett-controlled entity, 1001239530 Ontario Inc., which acquired all issued and outstanding common shares of Ceres Global at US$4.50 per share in cash
USA – Bartlett, a Savage Company, has completed the acquisition of Ceres Global Ag Corp. in a transaction valued at approximately US$140.19 million, marking a significant step in its strategy to strengthen its agribusiness operations across North America.
The deal was finalized through a wholly owned Bartlett-controlled entity, 1001239530 Ontario Inc., which acquired all issued and outstanding common shares of Ceres Global at US$4.50 per share in cash.
Based on the 31,141,904 outstanding shares as of the May 20 announcement, the transaction value totals more than US$140 million.
Ceres shareholders approved the agreement at a special meeting held on June 30. Final approval was granted by the Ontario Superior Court of Justice (Commercial List) on July 3.
Following the acquisition, Ceres Global is set to become a private company, with its shares expected to be delisted from the Toronto Stock Exchange after trading closes on July 8. The company will also begin proceedings to cease being a reporting issuer in Canadian jurisdictions.
“This is an important moment for Ceres, for Bartlett and for the Savage enterprise as a whole,” said Jeff Roberts, President and CEO of Savage.
“This acquisition represents another step forward in our strategy to strengthen our agriculture business and broaden the value we deliver to customers across North America. The Ceres team and its leadership have an outstanding track record, and we’re looking forward to building on that within the Savage portfolio,” he added.
Headquartered in Golden Valley, Minnesota, Ceres Global Ag Corp. is a merchandiser and supply chain manager in agricultural, energy, and industrial products. It operates 10 facilities across Saskatchewan, Manitoba, and Minnesota, with a total grain and oilseed storage capacity of approximately 29 million bushels.
Additionally, Ceres holds equity in three joint ventures in Minnesota and North Dakota that add another 16 million bushels of combined storage.
Founded in 1907 and acquired by Savage in 2018, Bartlett operates 15 grain storage facilities with a total licensed capacity of 74.3 million bushels, ranking it No. 24 among North America’s largest grain handling companies, according to Sosland Publishing Co.’s 2025 Grain & Milling Annual.
The company is also a major U.S. grain exporter to Mexico, and it maintains a strong presence in the food and renewable fuel sectors through its flour milling and soybean processing capabilities.
The company emphasized that the integration of Ceres will support its long-term growth and deepen its capacity to serve farmers, processors, and end users.
“Ceres fits naturally with Bartlett in terms of people, assets and vision.We’re excited to grow our capabilities, expand our reach, and deliver even greater value to our grower and customer partners in the years to come,” said Bob Knief, Executive Director at Bartlett.
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