Gavilon completes purchase of DeBruce Companies
January 5, 2011
by Eric Schroeder
OMAHA — Gavilon, L.L.C. has completed the acquisition of the DeBruce Companies, expanding the company’s agricultural assets in the United States and Mexico. The transaction, which was first announced in October 2010, increases Gavilon’s licensed grain storage capacity to more than 300 million bus, making it the third-largest grain storage network in North America.
Paul DeBruce will continue serving as chief executive officer of the DeBruce Companies, a wholly owned subsidiary of Gavilon, and will join Gavilon’s board of directors. Larry Kittoe also will continue as chief operating officer of the DeBruce Companies. Upon the closing of the transaction, Mr. DeBruce and Mr. Kittoe also were named executive vice-presidents of Gavilon.
“The addition of the DeBruce Companies’ grain, ingredient and fertilizer facilities and distribution network will complement Gavilon’s North American footprint and position the company to meet the rapidly growing demand for agricultural resources worldwide,” Gavilon said. “The combined company will leverage best practices across the organization to enhance its ability to compete as one of the leading commodity management firms.”