Bunge and Viterra complete landmark merger to form global agribusiness powerhouse - Trade Treasury Payments

Bunge Global SA (NYSE: BG) and Viterra Limited have successfully completed their merger, creating what industry experts are calling a premier global agribusiness solutions company. The transaction, initially announced on June 13, 2023, has finally closed after receiving all necessary regulatory approvals.

The newly combined entity brings together two agricultural giants with complementary asset footprints across the globe. Under the leadership of Greg Heckman, Bunge’s Chief Executive Officer, the merged company aims to strengthen its position in connecting farmers from major production regions to areas experiencing the fastest-growing consumption.

“Today is a defining moment for our company and our global team as we complete this transformative business combination,” stated Heckman. “Together, we’ve formed a stronger organisation with enhanced capabilities and expertise to meet the evolving needs of our customers, maximise value for our stakeholders and fulfil our shared purpose to connect farmers to consumers to deliver food, feed and fuel to the world.”

The financial structure and strategic benefits of the deal

According to the announcement from Glencore, which previously owned Viterra, the merger terms provided Glencore with substantial compensation:

1. 32.8 million shares in Bunge, representing 16.4% of the enlarged company
2. Approximately $900 million in cash, subject to later adjustment under the merger terms

These Bunge shares currently hold a market value of approximately $2.63 billion based on the closing price on July 1, 2025. Glencore views these NYSE-listed Bunge shares as representing surplus capital, aligning with their capital allocation and leverage framework.

The merger creates a fully integrated global agribusiness solutions company with several advantages. 

The first advantage is an expanded global footprint. The combined company now possesses highly complementary asset locations, enabling stronger connections between farmers in major production regions and consumers in high-growth markets. Secondly, it will lead to improved market responsiveness. With a better balance of value chains across geographies and access to more key origination markets, the new entity can more effectively respond to increasingly complex market demands.

It will also build a diversified agriculture network as the merger combines expertise across all major crops, creating a more robust agricultural portfolio. Lastly, the merger closure would result in experienced leadership. 

Impact on leadership structure and governance

The combined company operates under the leadership of Greg Heckman as Chief Executive Officer and John Neppl as Chief Financial Officer, both from Bunge. David Mattiske, Viterra’s former Chief Executive Officer, has joined the Bunge Executive Leadership Team as Co-Chief Operating Officer alongside Julio Garros, who previously served as Bunge’s Co-President of Agribusiness.

As co-COOs, Mattiske and Garros will jointly oversee commercial activities including global commodity value chains, country and regional management teams, renewable fuels initiatives, regenerative agriculture solutions, and industrial operations and safety.

Financial implications and future plans 

The combined organisation anticipates significant benefits from network synergies across joint commercial opportunities, vertical integration efficiencies, and improved logistics optimisation. According to company statements, the broader, more diversified footprint is expected to generate more stable cash flows.

Additionally, Glencore has announced plans to commence a share buyback program underpinned by the value of its Bunge shareholding. The program will total up to $1 billion, representing less than 40% of the current market value of the shares. Glencore intends to begin the buyback on Monday, July 7, 2025, with the program expected to conclude by February 2026, coinciding with the release of Glencore’s financial results for the 2025 financial year.

This merger closure is considered to be one of the most significant consolidations in the global agribusiness sector in recent years. With approximately 37,000 dedicated employees worldwide, the combined company operates in over 50 countries, leveraging more than 200 years of collective experience.

The new entity stands as a world leader in grain origination, storage, distribution, oilseed processing, and refining. It offers a comprehensive portfolio of plant-based oils, fats, and proteins, working alongside customers throughout the value chain to deliver quality products and innovative solutions addressing evolving consumer needs.

The merger comes at a time of significant global challenges in food security, sustainability, and agricultural innovation. The combined resources and expertise of Bunge and Viterra position the new entity to potentially play a leading role in addressing these challenges while delivering value to stakeholders across the agricultural value chain.