GrainCorp To Buy United Malt For $655M

Law360, New York (October 6, 2009, 3:56 PM EDT) -- Australian bulk grain handler GrainCorp Ltd. has announced it will acquire United Malt Holdings Ltd. for $655 million, in an effort to make its revenue stream “more robust.”

United Malt, which is owned by Castle Harlan Inc. and Champ Private Equity, is the fourth-largest commercial malt manufacturer in the world. The acquisition will increase GrainCorp's presence in the United States, Australia, Canada and the United Kingdom.

“For a number of years GrainCorp has been examining ways of making company earnings more robust and less susceptible to...
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