Glencore Agriculture to rebrand as Viterra this year

FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann

PARIS (Reuters) - Glencore Agriculture said it will rebrand itself this year as Viterra in a further change at the grain trading firm following its spin-off from commodities giant Glencore Plc.

Viterra is the name of the Canadian-based firm whose acquisition in 2012 helped Glencore become a leading international grain merchant.

“Viterra is a globally recognised brand within the business,” Glencore Agriculture CEO David Mattiske said in a statement.

The renaming comes after mining and commodity trading group Glencore sold 50% of its agriculture business in 2016 to Canadian pension funds CPP Investments and British Colombia Investment Management Corporation (BCI), which led to Glencore Agriculture becoming a separate entity to Glencore Plc.

Under previous CEO Chris Mahoney, who retired last year, Glencore Agriculture had sought to make acquisitions, notably in the United States, without concluding any sizeable deals.

Reporting by Gus Trompiz; Editing by Mark Potter