April 24 U.S. food and grain-handling companies
ConAgra Foods Inc, Cargill Inc and CHS Inc
have moved closer to sealing a deal to merge their
North American flour mill operations by agreeing to sell four
mills to a Japanese company.
Miller Milling Co, a U.S.-based unit of Tokyo-based Nisshin
Flour Milling Inc, will buy the four U.S. mills, the companies
said on Thursday.
Divesting the operations was part of the companies' plans to
complete the merger and create a company called Ardent Mills,
which would control a third of the U.S. flour market.
Completion of the deal has taken longer than expected due to
an investigation by the U.S. Justice Department's antitrust
Under the deal, ConAgra is joining forces with Horizon
Milling LLC - a joint operation between Cargill and CHS that
already is the largest flour miller in the United States. The
deal was first made public in March 2013 and was initially
expected to close late last year.
Those flour mills are Horizon's facility in Los Angeles and
ConAgra's facilities in Oakland, California; Saginaw, Texas; and
New Prague, Minnesota.
(Reporting by Josephine Mason; Editing by Lisa Von Ahn)