ADM and Cargill complete agreement launching technology joint venture focused on farmer profitability
Grainbridge LLC developing digital grain marketing tools to improve decision making and online marketing for North American farmers
CHICAGO and MINNEAPOLIS – WEBWIRE – Wednesday, March 6, 2019
Archer Daniels Midland Company (NYSE: ADM) and Cargill have successfully completed their transaction, formally launching Grainbridge, LLC. The joint venture will develop digital tools to help North American farmers consolidate information on production economics and grain marketing activities into a single digital platform, at no cost to them.
The agreement to form a technology-focused joint venture was announced in October 2018 and closed on March 4, 2019. With the transaction complete, the joint venture will begin developing a suite of digital solutions, including tools that provide grain marketing decision support, e-commerce and account management software.
“We’re thrilled to launch GrainBridge, and begin the roll out of our technological solutions for farmers this summer,” said Mark Frank, CEO, GrainBridge. “Since we announced this venture last fall, we’ve been talking to farmers across the country, and it’s clear that the people who grow our food are themselves hungry for technological solutions to help increase their efficiency and profitability.”
Headquartered in Omaha, Neb., Grainbridge, LLC welcomes other grain companies, grain buyers, technology and data providers to participate in the platform. This open approach will enhance the information available to farmers, giving them a complete, seamless 360-degree view of their business without having to consolidate these information sources on their own.
Strong protections will be built into all digital tools created by Grainbridge to safeguard customer data and prioritize privacy. Data will not be on any Grainbridge platform unless approved by the individual farmer, and individual customer data will not be shared between participating companies.
Terms of the joint venture are not being disclosed.
To learn more, visit https://abettergrainfuture.com/
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. At the end of 2018, we were one of the world’s largest agricultural processors and food ingredient providers, with approximately 32,000 employees serving customers in more than 170 countries. With a global value chain that includes approximately 450 crop procurement locations, 270 food and feed ingredient manufacturing facilities, 46 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses. Learn more at www.adm.com
Cargill’s 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive.
We combine 153 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture.