Macquarie Group Ltd (Macquarie) is acquiring a 42.5% stake in sugar and ethanol advisory, supply chain management and trading firm C Czarnikow Ltd from Wilmar International Ltd, which will cease to be a shareholder.
Bringing significant expertise in agricultural risk management, Macquarie will work alongside co-shareholders, Associated British Sugar and Czarnikow management, to support the company’s growth and future development.
This revised structure has no impact on Czarnikow Group Ltd’s day-to-day operations.
Robin Cave, CEO of Czarnikow Group Ltd, says: “We have achieved a balanced shareholding structure with the necessary expertise and flexibility to help us achieve future growth for Czarnikow.
“Macquarie has a reputation for deep industry and regional expertise, along with a strong track record of supporting commodity trading businesses. We are delighted to welcome Macquarie to our Board.
“The sugar market has robust fundamentals with excellent long-term growth prospects. We are confident that the new shareholding structure will support the future growth of Czarnikow, for the benefit of our clients and employees.”
Sebastian Barrack (pictured), Head of Macquarie’s Metals & Agricultural Sales and Trading division, says: "Macquarie has been actively involved in agricultural commodity markets for more than twenty years. We are a global leader in trading and price risk management of sugar and have a deep understanding of the dynamics of the market.
“We look forward to working alongside the Board and management to share our complementary skills and strengthen Czarnikow’s leading role in the global sugar markets.”
Dr Mark Carr, Group Chief Executive of AB Sugar says: “Czarnikow is an internationally respected business with a track record of growth achieved through anticipating the dynamic change in global sugar markets. Macquarie’s expertise in agricultural risk management is a natural fit and we look forward to working with both Macquarie and Czarnikow’s management on the next stage of the company’s development.”
The transaction is expected to complete early in the third quarter of 2012.