Bartlett, a Savage company, has officially completed its acquisition of Ceres Global Ag Corp., a Minnesota based company engaged in agricultural, energy and industrial supply chains. The acquisition process, which began in May 2025, concluded yesterday (7 July 2025), following the receipt of all required regulatory, court and shareholder approvals. This transaction marks a major expansion for Bartlett, enhancing its storage infrastructure and commodity trading capacity across strategic regions in the US and Canada.
Acquisition Structure and Regulatory Timeline
The total transaction value stands at approximately US$ 140 million. Under the agreed terms, Bartlett acquired all issued and outstanding common shares of Ceres Global Ag Corp. for US$ 4.50 per share in cash. The shareholder approval was secured during a special meeting. Following this, the Ontario Superior Court of Justice granted its final approval for the transaction.
As part of the finalization process, Ceres Global Ag Corp. shares are scheduled to be delisted from the Toronto Stock Exchange at the close of trading on July 8, 2025. Additionally, the company is in the process of applying to cease its status as a reporting issuer in Canada, signaling its full transition into private ownership under the Bartlett-Savage umbrella.
Expanded Storage Capacity and Commodity Coverage
Through this acquisition, Bartlett gains access to approximately 45 million bushels of grain and oilseed storage capacity, including both direct and joint venture assets. These assets are distributed across 13 operational sites located in Minnesota, North Dakota, Manitoba and Saskatchewan. The geographic coverage of these facilities strengthens Bartlett’s presence in key grain producing regions and aligns with its long term goal to serve growers and buyers with enhanced logistics and merchandising capabilities.
Ceres brings to the table deep expertise in the trading of essential commodities such as spring wheat, durum, oats and canola. This addition broadens the scope of commodities Bartlett handles and positions the company to address a wider spectrum of customer and market requirements. Ceres’ commodity trading capabilities complement Bartlett’s existing grain acquisition and export activities, particularly in the food and renewable fuel sectors.
Operational Synergies and Integration Approach
The integration of Ceres into Bartlett is expected to be guided by a shared commitment to service delivery, operational efficiency and long term growth. The combined teams will leverage their collective agricultural expertise and a consistent set of values focused on integrity, reliability and market responsiveness. According to the management, this acquisition is intended not merely as an asset transfer but as a strategic alignment that will enable scalable operations and deeper customer engagement.
Bartlett also acquires Ceres’ interests in several joint ventures as part of the transaction. These include Savage Riverport, Berthold Farmers Elevator, Farmers Grain, Gateway Energy Terminal and Stewart Southern Railway. These partnerships add to Bartlett’s transport, logistics and regional grain handling capacities, further reinforcing its end to end supply chain infrastructure across the Northern Plains and Canadian prairies.
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Speaking on the completion of the acquisition, Jeff Roberts, President and CEO of Savage, described the transaction as an important step in the company’s broader strategy to enhance its agricultural business. He emphasized that the acquisition aligns with Savage’s long term vision of delivering enhanced value to customers across North America and acknowledged the track record of the Ceres team.
“This is an important moment for Ceres, for Bartlett and for the Savage enterprise as a whole. This acquisition represents another step forward in our strategy to strengthen our agriculture business and broaden the value we deliver to customers across North America. The Ceres team and its leadership have an outstanding track record, and we’re looking forward to building on that within the Savage portfolio.”
Bob Knief, Executive Director at Bartlett, noted that the two companies are well aligned in terms of people, operational assets, and strategic vision. He underlined that the acquisition provides an opportunity to grow capabilities and expand market access for both growers and buyers, reinforcing Bartlett’s commitment to customer partnerships in the coming years.
“Ceres fits naturally with Bartlett in terms of people, assets and vision. We’re excited to grow our capabilities, expand our reach, and deliver even greater value to our grower and customer partners in the years to come.”
The completion of Bartlett’s acquisition of Ceres Global Ag Corp. marks a pivotal development in the consolidation of grain storage and commodity trading infrastructure across the US Northern Plains and Canada. With the addition of 45 million bushels in grain and oilseed storage capacity, an expanded network of trading assets, and new regional partnerships, Bartlett is poised to offer a broader, more integrated value proposition to its growers, partners, and customers. The strategic alignment and operational integration are expected to drive long-term growth and further strengthen Bartlett’s role in the North American agricultural supply chain.