BOULDER, Colo., July 26, 2024 ~ New York-based alternative asset management firm, Pinnacle Asset Management, L.P. ("Pinnacle"), has announced the acquisition of four grain elevator assets by its portfolio company, Viserion Grain, LLC ("VGC"). The assets were purchased from Greenfield Grain, LLC and are located in Parkdale, Arkansas and Dunn, Crowville, and Lake Providence, Louisiana. The terms of the transaction have not been disclosed.

VGC is a subsidiary of global agricultural merchant Viserion International Holdco, LLC ("Viserion International") and was established in 2021. Led by a team of experienced grain industry professionals, VGC's mission is to connect local producers to domestic and international agricultural supply chains. The company offers a range of services including marketing, transportation, commercial management, and grain storage solutions along the nation's inland waterways from northern Iowa to southern Louisiana.

According to Jason M. Kellman, Managing Partner and Chief Investment Officer of Pinnacle, the addition of these strategic assets will significantly expand VGC's ability to connect local producers to the domestic and international agricultural value chain. He also believes that this acquisition will position VGC to better serve its customers' needs for grain storage, transportation, and commercial management across the central and southern United States.

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Tim Gallagher, President of VGC expressed his commitment to the U.S. agriculture industry through this acquisition. He stated that expanding their footprint in the deep south with these new grain elevator assets will allow VGC to reliably supply high-quality grains to meet the changing demands of both domestic and global agriculture markets.

Tom Russell, VGC's Southern Region Area Manager also shared his excitement about acquiring and operating these new assets. He believes that VGC's broad geographic spread combined with their strong commercial background and expertise in managing river assets gives them a comprehensive view of the market and logistical flexibility that few independent companies can match. Russell looks forward to serving their growing base of producers with these new assets.

This acquisition is a testament to VGC's dedication to enhancing their origination capabilities for their valued customers and their commitment to the U.S. agriculture industry. With the addition of these four grain elevator assets, VGC is well-positioned to continue its mission of connecting local producers to global markets and providing comprehensive services to meet their customers' needs.

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