CHICAGO – U.S. crop handler Bartlett and Company, which exports American grain to Mexico, will merge with logistics provider Savage Companies, the firms said on Wednesday, in the latest round of consolidation to hit the struggling agriculture sector.
Officials for Missouri-based Bartlett and Utah-based Savage did not release financial terms or say what prompted the timing of the deal. The transaction is expected to close in August, according to the privately held companies.
Throughout the agriculture supply chain, companies and farmers alike remain under pressure from low crop prices, following years of massive harvests of staples such as corn, wheat and soybeans.
To read the rest of the story, please go to: Reuters
