Canada’s biggest grain merchant Richardson International is entering the malt sector through the acquisition of U.K.-based Anglia Maltings Holdings , targeting rising demand for the beer and whisky ingredient, Richardson said on Friday without disclosing financial terms.
Privately owned Richardson, which has operated since 1857, has been interested for 20 years in entering the malting business, but never found the right opportunity until now, Chief Executive Curt Vossen said. “Now that we’re a food processor as well as an agricultural company, malting serves a fundamental purpose, it’s a natural fit,” he said in an interview.He said Richardson will take time to understand the specifics of malting before deciding whether to expand the business.