Arable
Cofco set for further investment
in UK agriculture • Merchant has ‘robust’ balance sheets • More assets and acquisition planned • Strong partnership with UK farmers
I
pswich-based grain, seed and fertiliser specialist Cofco says it is set for further expansion in the UK market thanks to con- tinued investment by its Chinese parent. Formerly known as Nidera, the company was renamed Cof- co International in 2017 following its acquisition by the Cofco Group, the world’s largest agri-business as measured by total assets and traded volumes.
The last ten years have seen
the UK business grow organical- ly as well as through a number
of strategic acquisitions. These have included Suffolk-based seed business Grainseed, York- shire merchant J. Dawson and the grain trading division of Liver- pool-based Criddle & Co. “To support our future growth
plans, the net equity of the busi- ness has been raised by a fur- ther £1.2 million and is now ap- proaching the £14 million mark,” says Cofco UK managing direc- tor Mark Dordery.
“This represents a doubling of our net worth over the last dec- ade with the result that Cofco now
has one of the strongest balance sheets of any company in the UK merchanting sector.”
The additional equity contri-
bution, which has been provided by tbe Cofco Group, will be used to fund the purchase of fi xed as- sets including further business acquisitions in line with the com- pany’s wider global strategy, says Mr Dordery.
UK explansion Plans for UK expansion contrast with the backdrop of a national industry undergoing signifi cant consolidation in recent years, including several business fail- ures – among them Angus Cere- als, which went into administra- tion this summer. “Being part of a Fortune Glob- al 500 company with more than 13,000 employees in 35 coun- tries not only means we are one of the best resourced players on the world stage, it also means we can provide a range of products and services few can rival.” For the UK grain market, for example, the company has devel-
Cofco’s global strength allows it to offer a range of tailored products
oped a range of tailored products aimed at limiting market risk and exposure during times of high market volatility, Mr Dordery explains. “We don’t see grain trading as a simple transaction between grower and buyer but more as an ongoing partnership to help pro- ducers make the best decisions possible for their farms now and into the future.”
Additional products Cofco’s vision for the UK also in- cludes building its growing fer-
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