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Viserion Milling, Backed by Pinnacle, Acquires Western Milling

BOULDER, Col., June 13, 2022 /PRNewswire/ — Viserion Milling, LLC (“Viserion”), a newly formed subsidiary of Viserion International Holdco, LLC (“Viserion International”), today announced that it has entered into an agreement to acquire Western Milling, LLC (“Western Milling”), a diversified sector Californiafood industry, Kruse WesternInc. Viserion International and its affiliates are backed by Pinnacle Asset Management, LP (“Pinnacle”), a New Yorkalternative asset management company based on global commodity markets.

With a heritage dating back to 1935, Western Milling is one of the oldest and largest industrial suppliers of mixed cattle feeds to the California dairy industry, which accounts for approximately 20% of all U.S. dairy production, and operates fertilizers on a large scale. grain transportation and merchandising companies with a fleet of natural gas-powered trucks. Beyond mixed cattle feeds, Western Milling offers a full line of customizable animal nutrition products, including complete feeds, vitamin-rich mixed feeds, pelleted poultry feeds and branded pet foods, rolled cereals, supplements and other cereal products, including flour, molasses, rice bran and whey. The main facilities acquired by Viserion are located in Visalia (Headquarter), Hanford and Famous, California; Hereford, TX; and Buckeye, Arizona.

Aaron WiegandPresident and CEO of Viserion International, said, “Western Milling is a highly respected cornerstone of California the agricultural industry for almost a century. We are delighted to acquire this exceptional multi-faceted business whose milling and fertilizer businesses will complement Viserion International’s existing grain handling and commodity trading offerings. We look forward to working with Western Milling’s seasoned management team and excellent operational staff as they strengthen our global agribusiness platform. »

Kevin KruseOutgoing CEO of Western Milling and grandson of Western Milling founder Otto Krusewill serve as executive chairman of Western Milling. Chad Pintercurrently Chief Financial Officer of Western Milling, will succeed Kevin as Chief Executive Officer.

Jason M. KellmanManaging Partner and Chief Investment Officer of Pinnacle, said, “Viserion International’s national growth plans will be significantly amplified by Viserion Milling’s comprehensive portfolio of agribusiness units and established presence in the California dairy market. Following Viserion International’s recent acquisition of Zen-Noh Grain Corporation’s portfolio of ten grain elevator facilities, we are delighted that the company continues to grow into one of the leading agricultural merchants in the United States. »

Over the past six years, Pinnacle managed entities have made several strategic investments to strengthen the company’s physical commodities trading and trading business. Investments include acquisition of Five Rivers Cattle Feeding, the world’s largest cattle feed business from JBS UNITED STATES in 2018 and 2017, Pinnacle partnered with the former head of North American gas and power at Noble Group, Ben Sutton, to acquire Sierentz Global Merchants and create Six One Commodities (“61C”), a global energy trader. In 2021, 61C acquired Vega Energy Partners, Ltd. and WGL Midstream, Inc., a Houston, TXenergy trader and energy solutions wholesale company. Pinnacle is also the largest shareholder in Concord Resources Holdings Limited, a global metals trader formed in 2015 with a team of former Noble Group executives.

Rabobank acted as exclusive financial advisor to Kruse WesternInc. on the transaction.

About Viserion International Holdco, LLC
Viserion International is a global agricultural trader based in Boulder, Colorado. Viserion Milling, a subsidiary of Viserion International, is expected to manage a portfolio of strategic animal feed mill operations.

About Western Milling, LLC
Based at central california, Western Milling is a highly diversified manufacturer and supplier of plant and animal nutrient solutions, serving farmers and growers across the United States. Founded in 2000, with a heritage dating back to 1935, Western operates facilities in the western United States and Texas.

About Pinnacle Asset Management, LP
Founded in 2003, Pinnacle Asset Management, LP is privately held, New Yorkalternative asset management company based on global commodity markets with over $5 billion under management. Pinnacle offers its institutional investor base exposure to global commodity markets through absolute return physical and financial strategies and products. Pinnacle is registered as an investment adviser with the Securities and Exchange Commission, is registered as a commodity trading adviser and commodity pool operator with the Commodity Futures Trading Commission and is a member of the National Futures Association .

Media Contact
Kevin FitzGerald
Gasthalter & Cie.
(212) 257-4170

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SOURCEPinnacle Asset Management