Pinnacle Asset Management-Backed Viserion Grain Completes Acquisition of Grain Elevator Facilities

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Jul 09, 2021, 12:30 ET

BOULDER, Colo., July 9, 2021 /PRNewswire/ -- Viserion Grain, LLC ("Viserion"), a newly formed subsidiary of Viserion International Holdco, LLC, backed by Pinnacle Asset Management, L.P. ("Pinnacle"), today announced the successful completion of its acquisition of certain grain elevator facilities from Zen-Noh Grain Corporation ("ZGC"). The transaction was announced in April 2021 and was contingent upon the completion of ZGC's acquisition of multiple grain elevators from Bunge.

The addition of these facilities, which are located across five states, including Arkansas, Iowa, Illinois, Louisiana, and Missouri, will accelerate Viserion's growth in the agricultural trading market and provide domestic customers and exporters with more efficient grain and oilseed handling and distribution capabilities. Combined, the elevators have a total storage capacity of approximately 25 million bushels.

"We are very pleased to reach today's milestone, which will significantly bolster our presence in the U.S. grain market," said Aaron Wiegand, Chief Executive Officer of Viserion. "These assets will allow us to provide farmers with competitive access to global export markets."

"We've seen substantial growth in grain and oilseed production over the last few years, and this acquisition allows Viserion to participate in a crucial market," said Jason M. Kellman, Managing Partner and Chief Investment Officer of Pinnacle. "These facilities will not only help Viserion build their agricultural trading platform and improve their grain handling capabilities, but also complement their strong domestic trading operations. We are excited to work with Aaron and his team to continue to position Viserion as a leader in the global agricultural space."

Over the past six years, Pinnacle-managed entities have made several strategic investments to bolster Pinnacle's physical commodities trading and merchanting business, including acquiring Five Rivers Cattle Feeding, the world's largest cattle feeding operation, and backing Six One Commodities, a global energy merchant, as well as being the majority shareholder of Concord Resources Holdings Limited, a global metals merchant formed in 2015 with a team of former Noble Group executives.

About Viserion Grain, LLC
Viserion International Holdco, LLC ("Viserion International") is a global agricultural merchant based in Boulder, Colorado. Viserion Grain, LLC, a subsidiary of Viserion International, is expected to manage a portfolio of strategic grain storage and handling facilities.

About Pinnacle Asset Management, L.P.
Founded in 2003, Pinnacle Asset Management, L.P. is a private, New York-based alternative asset management firm focused on the global commodities markets with approximately $3.6 billion under management. Pinnacle provides its institutional investor base with exposure to the global commodities markets via physical and financial absolute return strategies and products. Pinnacle is registered as an investment adviser with the Securities and Exchange Commission, is registered as a commodity trading adviser and a commodity pool operator with the Commodity Futures Trading Commission and is a member of the National Futures Association.

About Zen-Noh Grain Corporation
Zen-Noh Grain Corporation ("ZGC") is the U.S. subsidiary of the National Federation of Agricultural Cooperative Associations of Japan, Zen-Noh. ZGC trades and exports corn, soybeans, sorghum, wheat, and byproducts from its state-of-the-art export elevator located at mile 164 on the Mississippi River in Convent, LA to Japan and other global markets. ZGC also has grain origination interests in Canada and Brazil, and a forage processing business in Pasco, WA. To learn more, visit www.zgcusa.com.

SOURCE Pinnacle Asset Management