By Alice McFarlane

Bunge signs asset purchase agreement to acquire the grain elevator assets of North West Terminal

Sep 23, 2025 | 11:34 AM

A buyer has been found for North West Terminal Ltd. (NWT) grain business near Unity, Sask.

Bunge has signed a purchase agreement to acquire the grain elevator and associated storage assets. The fermentation and distillation facility will continue to be operated by NWT.

The purchase price is $27 million, but a final figure, after some costs are included, will be disclosed to the approximately 800 NWT shareholders by the end of this week.

The NWT terminal has been closed and has not buying any grain for over a year. Negative margins and lower handling were the reasons.

The proposed transaction does not include NWT’s minority ownership position of the Alliance Grain Terminal in Vancouver.

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NWT Chief Executive Officer Jason Skinner said money from the sale would go to pay down the $42-million bank debt, adding it will give the fermentation and distillation business the greatest chance of success.

“The distillation fermentation business has been treading water as it’s been developing new markets. It would have had losses the last two years, but certainly the lion’s share of losses has been coming from the grain side of the business,” Skinner said.

It’s been a long process finding a buyer. Skinner said in August 2023, the board engaged consultants, FTI Capital Advisors from Toronto.

“After doing a search, we relied on them to assist the board in terms of going out and finding interested companies and getting bids and finding a path forward for the business,” he said. “There was a lot of work done. There was a process run in 2023, and then that didn’t result in a sale. There was another process run in 2024 that resulted in this opportunity.”

The head of Bunge in Canada Kyle Jeworski said the company looks forward to integrating the high-throughput facility into its grain asset network.

“We firmly believe that our operational and logistical expertise, focus on superior service, and targeted future investments in the facility will allow us to bring it to its full potential for the benefit of our customers,” he said. “We look forward to being an active member in the community as a leading employer and contributor to community investment initiatives.”

NWT’s grain facility has a total storage capacity of 63,000 metric tonnes, making it one of the largest grain handling facilities in Western Canada. It has full cleaning and drying capabilities, and is serviced by both CPKC and CN, Canada’s two largest railways.

The proposed transaction will be discussed at a special shareholder meeting during the week of Oct. 20.

Two-thirds of shares are needed to approve the sale before it can proceed.

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alice.mcfarlane@pattisonmedia.com