Renewable Waste : Neste’s acquisition of US-based company Agri Trading closed
In September 2021, Neste announced that it would acquire Agri Trading, one of the largest independent renewable waste and residue fat and oil traders in the United States. The acquisition has been approved by regulatory authorities, and the deal has been closed.
“The completion of this transaction is an important step forward in delivering on Neste’s growth strategy in renewables and in strengthening our global renewable raw material platform, building on our acquisition of Mahoney Environmental in the US and IH Demeter, Bunge Loders Croklaan and Count Terminal in the Netherlands,” says Neste’s President and CEO Peter Vanacker.
Neste’s raw material strategy is focusing on waste and residues growth and the development of new raw material sources. Agri Trading is an important partner for Neste as an industry leader in trading animal fat waste, used cooking oil, technical corn oil, and other vegetable oils in North America.
Additionally, Agri Trading’s established logistics networks and assets will enable Neste to source and transport raw material efficiently with a lower carbon footprint and, ultimately, enable Neste to maintain its leadership position in the global raw material market.