Consolidated Grain & Barge Co. (CGB), a wholly owned subsidiary of CGB Enterprises Inc. that operates 95 grain facilities across the Midwest, announced this week that it has signed a definitive agreement to lease nine facilities located in the South from Big River Rice & Grain, a wholly owned subsidiary of Agspring.
“We announced a managerial services agreement last year, and we are excited to provide even more service to the area’s producers through lease agreements in Eudora and Parkdale, Ark., in addition to Pioneer, Dunn, Monticello, Hollybrook, Mer Rouge, Crowville and Lake Providence, La.,” said Greg Beck, senior vice president of CGB.
Agspring chief executive officer Mark Beemer said, “We are pleased that area producers will directly benefit from this transaction with CGB through their direct ties to the export markets. This transaction allows Agspring to focus on our value-added businesses, including Thresher Artisan Wheat, Firebird Artisan Mills and Agforce Transport Services.”
Big River Rice & Grain, formed in 2013 through an acquisition, is headquartered in Pioneer, La., centrally located among facilities in Dunn, Mer Rouge, Monticello, Hollybrook, Lake Providence and Crowville, as well as Parkdale and Eudora, Ark. The company provides origination, storage and handling, logistics, marketing and risk management for corn, soybeans, wheat, rice and milo for producers, processors and customers throughout the region.