On December 17, 2024, Alco Energy SA (“Alco”) completed the acquisition of Integrated Grain Processors Co-operative Inc. (“IGPC”) through its wholly-owned subsidiary created for the purposes of the acquisition, Alco Energy Canada Corp.
The transaction was completed by statutory plan of arrangement under the Business Corporations Act (Ontario) following the conversion of IGPC from a co-operative corporation under the Co-operative Corporations Act (Ontario) to a business corporation existing under the Business Corporations Act (Ontario).
IGPC, headquartered in Aylmer, Ontario, is Canada’s second-largest ethanol producer and operates a state-of-the-art biorefinery producing ethanol, protein for animal feed, corn oil, and biogenic CO2. Alco, one of the largest ethanol producers in Europe, is a joint venture between Alco Group and Groep Vanden Avenne Commodities.
Upon completion of the transaction, Alco added 380 million liters of fuel-grade ethanol to its existing production capacity of 1 billion liters. With Alco Bio Fuel in Ghent (Belgium), Alco Energy Rotterdam (The Netherlands) and now IGPC in Aylmer (Canada), Alco will produce 1.4 billion liters of fuel ethanol annually. The transaction enhances Alco Energy’s global footprint and marks a strategic investment in the North American ethanol market, further consolidating its position as a leading international player in the renewable fuels industry.
Cassels acted for Alco.