North West Terminal to sell grain business to Bunge Canada

By Kate Winquist

UNITY – North West Terminal Ltd. (NWT) has announced plans to sell its grain handling business to Bunge Canada Inc. in a $27-million deal expected to close later this fall.

The proposed sale, subject to shareholder approval at a special meeting the week of Oct. 20, would see Bunge acquire substantially all of NWT’s grain assets. The agreement does not include NWT’s fermentation and distillation business, nor its ownership stake in the Alliance Grain Terminal in Vancouver, B.C., which the company intends to continue operating.

The move follows a strategic review process launched in 2023, after the company’s grain elevator was idled amid challenging industry conditions.

“We’ve been working on behalf of shareholders for the past two years to determine a path forward that would allow the company to continue its operations,” said NWT board chair Brad Sperle. “Given the current state of the grain industry and the recent financial results of our grain division, the Board believes selling these assets is in the best interests of the company and its stakeholders.”

Sperle said the transaction will allow NWT to significantly reduce debt while giving its fermentation and distillation division the best chance for long-term success.

If approved, the deal is expected to close on or about October 29. Proceeds will primarily go toward debt repayment.

FTI Capital Advisors Canada acted as strategic advisors and MLT Aikins LLP as legal advisors to NWT.