Canada's Alliance Grain Traders (AGT.TO), a top shipper of legume crops, said on Tuesday it had acquired Canz Commodities, an Australian processor of chickpea and pulse crops. Regina, Saskatchewan-based Alliance said it bought Canz, based in New South Wales, for C$8 million ($8.3 million), including a budget for improvements, and will operate the company through its subsidiary Australia Milling Group Pty Ltd. Alliance is one of several Canadian agricultural companies to expand into Australia in recent years, along with Viterra Inc (VT.TO) and Agrium Inc (AGU.TO). By operating in both North America and Australia, the companies can acquire crops from different world regions, giving them a hedge against weather-related problems.
Shares of AGU fell by 1.92% or $-1.6917/share to $86.28. In the past year, the shares have traded as low as $62.77 and as high as $99.14. On average, 1616530 shares of AGU exchange hands on a given day and today's volume is recorded at 879398.
Source
