Glencore Agriculture has officially taken the name of its Canadian subsidiary as its own worldwide.
Glencore Agriculture, co-owned by commodity firm Glencore and two Canadian public-sector pension fund investment firms, announced Monday it has started to use the name Viterra — and a new brand, “Viterra: The Agriculture Network” — in most of the 37 countries where it operates.
Apart from the name change — for which the company first announced plans in August — and the “refreshed” brand, “it is business as usual across the company,” Viterra said.
The Viterra brand dates back to 2007, when Regina-based grain firm Saskatchewan Wheat Pool merged with its Winnipeg rival Agricore United under the new name. Viterra then expanded that brand into Australia in 2009 when it took over ABB Grain.
“Over the last four decades, we have steadily grown to become one of the world’s leading agricultural businesses,” David Mattiske, the rebranded company’s CEO, said in a release.
“The name Viterra, which means vitality from the earth, unites our business under one brand with a shared purpose, further strengthens our identity and strongly positions us for future growth.”
The rebranding won’t take full effect until May next year in Australia, Brazil, Egypt, Kazakhstan, New Zealand, Romania, Russia and Ukraine due to “timing issues and business activities,” the company said.
Glencore started as a metals and minerals firm under the name Marc Rich and Co. and got into agriculture with the purchase of Dutch grain trader Granaria in 1981. The firm rebranded as Glencore in 1993 and its Glencore Agriculture arm bought Viterra in 2012.
Glencore then sold stakes of 40 and 9.9 per cent of Glencore Agriculture in 2016, to CPP Investments and British Columbia Investment Management Corp. (BCI) respectively.
Viterra — in which Glencore has held its stake since it spun off the Glencore Agriculture business later in 2016 — today deals in grains, oilseeds, pulses, rice, cotton and sugar through 24 port terminals, 180-plus elevators and handling facilities and over 30 processing plants. — Glacier FarmMedia Network