Viserion Grain LLC said Friday that it has closed on its purchase of grain elevators in five states, including Arkansas, from Zen-Noah Grain Corp.
The transaction, first announced last year, was contingent on the completion of Zen-Noah's acquisition of multiple grain elevators from Bunge Corp. Terms of the sale were not disclosed.
Zen-Noah identified in April the Bunge operations in Arkansas now being sold to Viserion as being at Huffman, just east of Blytheville; Riverside and Landside elevators in Osceola; and Helena-West Helena.
Other elevators in Shawneetown, Ill., Lake Providence, La., McGregor, Iowa, Lettsworth, La., Caruthersville, Mo., Cottonwood Point, Mo., and Savanna, Ill., also are involved in the sale. Consolidated Barge & Grain, a Zen-Noah affiliate, operated three of the grain elevators. Viserion reported the elevators have a storage capacity of about 25 million bushels.
Viserion is a newly formed subsidiary of Viserion International, which is backed by Pinnacle Asset Management, an investment firm in New York. Pinnacle said it focuses on global commodities markets, managing $3.6 billion in investments.