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39-537: The company was created by the sugar and ethanol producers who are members of the Cooperativa de Produtores de Cana-de-Açúcar, Açúcar e Álcool do Estado de São Paulo and who are now the shareholders of Produpar, the holding company controlling Copersucar. The new business model permits the producer-shareholders to maintain their independence, autonomy, and the specific efficiencies of their production units, while enabling them to participate effectively in all other stages of

78-503: A $ 25 million investment in Puris, a supplier of pea protein used in Beyond Meat products. In 2019, Cargill invested an additional $ 75 million. On April 8, 2020, Cargill closed its Hazleton, Pennsylvania meatpacking facility because "an unspecified number of Cargill employees at the plant [had] tested positive for COVID-19." The county had the "highest number of confirmed cases of COVID-19 in

117-493: A biotech specialist at Cargill had pleaded guilty to stealing information from Cargill and Dow AgroSciences . Kexue Huang, a Chinese national, was discovered to be passing trade secrets back to China. In November 2011, Cargill completed the acquisition of Provimi , a global animal nutrition company for €1.5 billion ($ 2.1 billion US). On April 1, 2012, Cargill completed a purchase of a cat and dog food plant in Emporia, Kansas . It

156-656: A fallout from the financial crash of 1920, Cargill posted its first loss. Cargill opened its first Canadian operations in Montreal in 1928 as Cargill Grain Company Ltd. Headquartered in Winnipeg , it employs up to 8,000 people in Canada. One of the biggest criticisms of Cargill has been its perceived arrogance (see, for example, Brewster Kneen in the Ecologist and also Greg Muttitt in

195-593: A grain-flat house in Conover , Iowa . A year later William was joined by his brother Sam, forming W. W. Cargill and Brother. Together, they built grain flat houses and opened a lumberyard. In 1875, Cargill moved to La Crosse , Wisconsin , and their brother James joined the business. La Crosse was strategically located on the Mississippi near the junctions of the La Crosse River, Dubuque, and Southern Minnesota divisions of

234-662: A joint venture to take over their U.K. fresh poultry businesses, Avara Foods , employing 6,000 people. In February 2018, Cargill completed the purchase of Pro Pet, a pet food manufacturing company. Pro Pet had three manufacturing facilities, one in Owatonna, Minnesota , one in Kansas City, Kansas , and one in St. Marys, Ohio . In November 2018, Cargill sold its 13 crop input locations in Ontario , Canada to La Coop Fédérée . In 2018, Cargill made

273-629: A large financial services arm, which manages financial risks in the commodity markets for the company. In 2003, it split off a portion of its financial operations into Black River Asset Management , a hedge fund with about $ 10 billion of assets and liabilities. It previously owned two-thirds of the shares of The Mosaic Company (sold off in 2011), a producer and marketer of concentrated phosphate and potash crop nutrients. Cargill reported gross revenues of $ 165 billion in 2022. It last reported net profit earnings in 2021, of just below $ 5 billion. Employing over 160,000 employees in 66 countries, it

312-534: A small grain-storage business in Conover, Iowa , which eventually grew to become Cargill, Incorporated. In 1867, he was joined by two of his younger brothers, Sam and Sylvester, in Lime Springs, Iowa , where Cargill built a grain flat house and opened a lumberyard. In 1875, another younger brother, James F. Cargill, joined the company. Cargill married Ellen Theresa "Ella" Stowell on October 1, 1868. They had four children together: In 1904, Cargill suffered from

351-459: A stroke, which prompted his retirement from most day-to-day work in the company. In October 1909, Cargill became ill during a trip to Montana . He returned home and was treated, but died of pneumonia on October 17, 1909. Cargill's entire estate was to be passed on to his wife by law, but as it was going through probate, his widow Ellen also died on March 23, 1910. This meant that the Cargill company

390-832: Is an American multinational food corporation based in Minnetonka , Minnesota , and incorporated in Wilmington, Delaware . Founded in 1865 by William Wallace Cargill , it is the largest privately held company in the United States in terms of revenue. Some of Cargill's major businesses are trading, purchasing and distributing grain and other agricultural commodities , such as palm oil ; trading in energy, steel and transport; raising livestock and production of feed ; and producing food ingredients such as starch and glucose syrup , vegetable oils and fats for application in ultra-processed foods and industrial use. Cargill also has

429-513: Is responsible for 25% of all United States grain exports. The company also supplies about 22% of the United States domestic meat market, importing more products from Argentina than any other company, and is the largest poultry producer in Thailand . All the eggs used in American McDonald's restaurants pass through Cargill's plants. It is the only US producer of Alberger process salt, which

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468-450: Is used in the fast-food and prepared food industries. Cargill has remained a family-owned business , as the descendants of the founder (from the Cargill and MacMillan families ) own over 90% of it. In January 2023, Brian Sikes was appointed to serve as president and CEO. He is the 10th CEO in Cargill's 158-year history. Cargill was founded in 1865 by William Wallace Cargill when he bought

507-773: The Chicago, Milwaukee and St. Paul Railroad . Sam Cargill left La Crosse in 1887 to manage the office in Minneapolis , an important emerging grain center. Three years later, the Minneapolis operation incorporated as Cargill Elevator Co.; some years after that the La Crosse operation incorporated as W. W. Cargill Company of La Crosse, Wisconsin. In 1898, John H. MacMillan Sr., and his brother, Daniel, began working for W. W. Cargill. MacMillan then married William Cargill's eldest daughter, Edna. Upon Sam Cargill's death in 1903, William Cargill became

546-626: The United States Navy . In 1962, Cargill rejoined the Chicago Board of Trade, two years after MacMillan's death. In 1960, Erwin Kelm became the first non-family chief executive. Aiming for expansion into downstream production , he led the company into milling, starches , and syrups . As the company grew, it developed a market intelligence network as it coordinated its commodities trading, processing, freight , shipping, and futures businesses. In

585-730: The Alberta government disclosed that a second worker from the Cargill plant there had died that day. On June 3, 2020, Cargill announced that it would no longer publish quarterly results, stopping the disclosures that the company had provided since 1996. Cargill canceled its third-quarter earnings release in March 2020 amid the COVID-19 pandemic . In 2022, Cargill saw record profits due to the Russian invasion of Ukraine and rising food prices . As of 2016 , Cargill operates in 70 countries across six regions around

624-588: The Possenti family's Mimesa C.A. to form Agroindustrial Mimesa in Maracaibo, dedicated to the manufacturing of flour and pasta. Expansion followed thereafter. Tensions arose with the company's private shareholders, as Cargill typically put 80% of earnings back into the business. By the early 1990s, members of the Cargill and MacMillan families became upset that their shares in the company were yielding mediocre dividends . Demands rose for an initial public offering to turn

663-646: The U.S. and the Soviet Union . During this time, Cargill saw both record profits and major cash crunches. The first of the crises was the debt left by the death of William W. Cargill. The company issued $ 2.25 million in Gold Notes, backed by Cargill stock, to pay off its creditors. The Gold Notes were due in 1917, but thanks to record grain prices caused by World War I all debts were paid by 1915. As World War I continued into 1917, Cargill made record earnings and faced criticisms of war profiteering . Four years later, as

702-453: The USSR, establishing a relationship that later involved a series of larger deals. When Whitney MacMillan , nephew of John Jr., took over the company from Kelm in 1976, revenue approached $ 30 billion. The US government put pressure on big grain exporters with allegations of manipulating the market, and Cargill was a major target, but it emerged without any major changes. In 1978, Cargill purchased

741-426: The amount of its closest rival, Archer Daniels Midland , and had 97,000 employees running more than 1,000 production sites in 59 countries. Cargill Meat Solutions acquired Milwaukee Emmpak in 2003 and merged it with Taylor Packing Co. (purchased in 2001). In 2006, Cargill Meat purchased Fresno Meats. The three main brands of beef are Circle T Beef, Valley Tradition, and Meadowland Farms. On June 1, 2007, CEO Staley

780-536: The area with 982", of which 849 were in Hazleton. On April 20, 2020, Cargill temporarily closed its High River, Alberta , plant because "the operation was linked to nearly 500 cases of COVID-19". All 2,100 employees were recommended for virus testing. This plant was responsible for about 36% of Canada's beef producing capacity. On May 6, the plant was connected with 1,560 cases of COVID-19. United Food and Commercial Workers Canada (UFCW) Union Local 401 has recommended

819-566: The building that formerly housed The Wichita Eagle , following the old building's demolition. In 2016, Cargill completed the commissioning of a feed plant in Bathinda, Punjab, India, and manufactures dairy cattle feed under the Purina brand name. In 2017, Cargill sold its Geneva-based petroleum-trading business to Macquarie Bank and soon after its North American power and gas trading business as well. In 2018, Cargill and Faccenda Foods opened

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858-488: The business chain, in which scale and knowledge of global markets are fundamental for generating and capturing value. Copersucar has a unique business model, because it combines production efficiency in the mills, managed by the producers, with gains in scale in logistics, commercialization and risk management. In 2005, Copersucar sold all of its retail brands, including Açúcar União, to Grupo NovAmérica. A fire on 18 October 2013, burned 300,000 tons of stored sugar, causing

897-653: The company had $ 4 billion in debt. After a reduction in previously strong bond credit rating , Micek announced he would step down a year early. Warren Staley became chief executive and continued expanding the company and it rebounded. He pursued a new strategy that shifted away from an asset-intensive commodities company to solutions-oriented enterprise. While expanding, the company also refocused its business by selling assets such as its coffee and rubber businesses. In 2002 Cargill acquired European-based starch manufacturer Cerestar from Montedison for $ 1.1 billion. By 2002, Cargill had over $ 50 billion in annual sales, twice

936-513: The company public. The company responded with an employee stock ownership plan, and in 1993 reportedly purchased 17% of the firm for $ 730 million from 72 Cargills and MacMillans. It used that stake to begin the employee stock plan. The company's board of directors was reorganized to reduce the number of relatives to six, alongside six independents and five managers. Ernest Micek took over as chief executive in August 1995. Cargill underwent turmoil in

975-600: The company until his retirement in 1936. Under his leadership Cargill grew several fold, expanding out of the Midwest by opening its first East coast offices, in New York, in 1923. He was also the architect of the company's strategy of internationalism. He opened the company's first Canadian, European and Latin American offices in 1928, 1929, and 1930. He was also noted for his involvement in the controversial commercial rapprochement between

1014-453: The corn market. In 1938, the Chicago Board suspended Cargill and three of its officers from the trading floor. When the Board lifted its suspension a few years later, Cargill refused to rejoin, instead trading through independent traders. During World War II , MacMillan Jr. continued to expand the company, which boomed as it stored and transported grain and built T1 tankers and Towboats ships for

1053-419: The decades before email , the company relied on its own telex-based system for internal communication. By 1972, Cargill’s business grew with $ 5 billion in sales, becoming the largest agricultural trader in the world. When the Soviet Union entered the grain markets in the 1970s, demand grew to unprecedented levels, and Cargill benefitted. In 1963, Cargill had already negotiated a $ 40 million wheat deal with

1092-558: The following years; its financial unit lost hundreds of millions of dollars in 1998 when Russia defaulted on debt and developing countries began to have financial issues. The commodities and ingredients business, which was 75% of Cargill's total revenue, suffered from the 1997 Asian Financial Crisis . Revenues fell by double-digit percentages for two years in a row, from $ 55.7 billion in 1997 to $ 51.4 billion in 1998 and $ 45.7 billion in 1999, while net income fell from $ 814 million in 1997 to $ 468 million in 1998 and $ 220 million in 1999. By 1999,

1131-444: The global sugar price to rise. In 2014, Copersucar and American firm Cargill formed Alvean , a sugar trading firm. In 2017, it produced 3.8 million tons of sugar and 4.8 billion liters of ethanol. This Brazilian corporation or company article is a stub . You can help Misplaced Pages by expanding it . This agriculture article is a stub . You can help Misplaced Pages by expanding it . Cargill Cargill, Incorporated

1170-501: The hedge fund Proterra Investment Partners, emerging markets debt specialist Argentem Creek Partners and hedge fund Garda Capital Partners . In 2016, Cargill announced that it would move its Protein Group headquarters from older buildings in downtown Wichita, Kansas , and consolidate into a new building in Wichita's nearby Old Town area. The new $ 60 million building will be built on the site of

1209-503: The large Leslie Salt refining company in Newark, California , from Schilling . In 1979, Cargill entered the meat-processing business with the purchase of beef processor MBPXL (later Excel). The division expanded into turkey, food service and food distribution businesses and is now known as Cargill Meat Solutions . In 1986 Cargill started operations in Venezuela through a partnership with

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1248-699: The plant on its own. On May 11, a CBC journalist wrote, "The Cargill plant in Alberta, where there have been about 1,000 reported cases [of human COVID-19], is now considered the largest single-site outbreak in North America ." Meanwhile, the Agriculture Union of CFIA 's embedded inspectors at slaughterhouses said that management is "threatening disciplinary action against employees who refuse to be reassigned to work at COVID-19-infected meat plants", while Deputy PM Chrystia Freeland said, "those who feel unsafe won't be forced back to work." Also on May 11,

1287-570: The plant's closure since 38 cases were known. The public health authority of Quebec did not shut down a Cargill plant in Chambly south of Montreal on May 10, 2020. A total of 64 employees, about 13% of the workforce, had COVID-19. The workers are represented by the UFCW. The public health department for the Montérégie region had been working with Cargill since April 25 to deal with the outbreak. Cargill closed

1326-611: The same journal). The MacMillans' aggressive management style led to a decades-long feud with the Chicago Board of Trade . It began in 1934 when the Board denied membership to Cargill. The US government overturned the Board's ruling and forced it to accept Cargill as a member. The 1936 corn crop failed and with the 1937 crop unavailable until October, the Chicago Board of Trade ordered Cargill to sell some of its corn. Cargill refused to comply. The US Commodity Exchange Authority and Chicago Board of Trade accused Cargill of trying to corner

1365-524: The sole owner of the La Crosse office. John MacMillan was named general manager of Cargill Elevator Company and moved his family to Minneapolis. William Cargill died in 1909, creating a fiscal crisis for the company. MacMillan worked to resolve the credit issues and to force his brother-in-law William S. Cargill out of the company. The current owners are descended from John MacMillan's two sons, John H. MacMillan Jr., and Cargill MacMillan Sr., and his youngest brother-in-law, Austen S. Cargill I. John MacMillan ran

1404-466: The world. Algeria, Ivory Coast, Egypt, Ghana, Kenya, Morocco, Mozambique, Nigeria, South Africa, Uganda, Zambia and Zimbabwe. China, India, Indonesia, Japan, Malaysia, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam. Australia, New Zealand William Wallace Cargill William Wallace Cargill (December 15, 1844 – October 17, 1909) was an American businessman. In 1865, he founded Cargill , which by 2008

1443-445: Was previously owned by American Nutrition. In December 2013 CEO and chairman Page was succeeded by current CEO Dave MacLennan. In December 2014, Cargill finished commissioning a $ 100 million Indonesian cocoa plant. In 2015, Cargill wound down its Black River Asset Management division by shutting down four hedge funds, folding two agriculture and energy funds into Cargill, and spinning off three fund businesses to employees to create

1482-430: Was succeeded by Gregory R. Page . Cargill's quarterly profits exceeded $ 1 billion for the first time during the quarter ending on February 29, 2008 ($ 1.03 billion); the 86% rise was credited to global food shortages and the expanding biofuels industry that, in turn, caused a rise in demand for Cargill's core areas of agricultural commodities and technology. In October 2011, the U.S. Justice Department announced that

1521-657: Was the largest privately held corporation in the United States in terms of revenue, employing over 150,000 people in 68 countries. William Wallace Cargill was born on December 15, 1844, in Port Jefferson, New York . He was the third of seven children of Scottish sea captain William Dick Cargill, who had emigrated to New York in the late 1830s. His mother, Edna Davis, was a native of New York. In 1856, Cargill's parents relocated to Janesville, Wisconsin , to pursue an agricultural life. In 1865, William W. Cargill started

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