• Bunge Ltd (NYSE: BG), through its Bunge Loders Croklaan JV with IOI Corporation Berhad, entered into a definitive asset purchase agreement with Fuji Oil New Orleans LLC to acquire its port-based refinery in Louisiana. The financial details were not disclosed.

• The newly constructed refinery is located in IMTT's (International-Matex Tank Terminals) Avondale Terminal, Louisiana.

• The facility has multi-oil refining capabilities, enabling Bunge to expand its existing customer base.

• The acquisition will provide Bunge with a scalable, complementary port-based footprint that connects North American food, feed, and fuel customers to global markets.

• Bunge will serve customers with the newly acquired capacity starting in the second quarter 2023.

• "This acquisition delivers on our long-term strategy to expand our value-added oils business by accelerating reach across North America," said Aaron Buettner, Bunge's President, Food Solutions.

• The company held $1.1 billion in cash and equivalents as of Dec. 31, 2022.

• Price Action: BG shares closed higher by 0.24% at $92.46 on Thursday.

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This article Bunge Acquires Fuji Oil's Louisiana Refinery For Undisclosed Sum originally appeared on Benzinga.com

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