GrainCorp (ASX: GNC) plans to tap organic and inorganic opportunities to pursue growth

Tue 09 Jan 24, 11:21 AM | Team Kalkine

Image source: © Thorren | Megapixl.com

Highlights

GrainCorp is an Australia based diversified agribusiness company

A share sale agreement was inked by GrainCorp to acquire XF Australia Pty Ltd

Dimensional Fund Advisors, L.P. has the maximum stake in the firm with a shareholding of around 6.13%

GrainCorp Limited (ASX: GNC) is an ASX-listed diversified agribusiness firm which operates through two segments – processing and agribusiness. Through its processing segment, the company is engaged in vertically integrated edible oils manufacturing, crushing and distribution. Through its agribusiness unit, the company offers commodities like organics, pulses, oilseeds, coarse grains, wheat, oils, grains and so on.

Recently, the company had signed a share sale agreement to buy XF Australia Pty Ltd (XFA), which provides feed supplement products and nutritional consulting services, for a consideration of AUD 35 million. In the financial year 2023 (FY23), XFA generated EBITDA of AUD 7.6 million.

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