Prairie Malt in Biggar is being sold to Axereal, a large agricultural co-operative based in France.
Cargill has sold its entire global malt business to Axereal’s malting subsidiary, the Boortmalt Group. It is said to be Europe’s second largest malt producer.
Cargill has had a financial stake in Prairie Malt for the past twenty years. There was a downsizing in 2011, following the loss of a supply agreement with a major customer.
The sale is subject to regulatory approval and is expected to close in the second half of next year.