On May 20, 2025, Ceres Global Ag Corp. (TSX: CRP) announced its acquisition by 1001239530 Ontario Inc., a newly formed entity controlled by Bartlett Grain Company, LLC, part of the Savage Companies. The all-cash deal offered US$4.50 per share—a 153% premium over the May 16 closing price—valuing Ceres at approximately C$135 million (C$6.14 per share at the time) based on 31,141,904 outstanding shares.

The transaction was unanimously approved by Ceres’ Board and its independent committee. Major shareholders, including VN Capital and Princeton Holdings (together owning 70% of shares), entered into binding agreements to support the arrangement. The acquisition was completed on July 7, 2025, following shareholder, court, and regulatory approvals. Ceres has since been delisted from the TSX and is no longer a reporting issuer in Canada.

Ceres, a Minnesota-based agricultural supply chain company, brings approximately 45 million bushels of grain and oilseed storage capacity and strengthens Bartlett’s merchandising reach across 13 facilities in Minnesota, North Dakota, Manitoba, and Saskatchewan. The acquisition enhances Bartlett’s commodity trading capabilities—particularly in spring wheat, durum, oats, and canola—and supports Savage’s broader strategy to grow its agriculture business across North America.

Legal advisors included Blake, Cassels & Graydon LLP and Jenner & Block LLP for Ceres, and Stikeman Elliott LLP and Greenberg Traurig, LLP for Bartlett. Blair Franklin Capital Partners Inc. provided a fairness opinion to the Ceres Board for the deal.