The grain production and storage company this week has confirmed its sale to one of Canada’s largest pension funds, the the Public Sector Pension (PSP) Investment Board.

BFB founder and managing director Terry Brabin told The Daily Advertiser that the company would maintain its head office and would aim for growth after the sale.

“BFB will maintain current management team, head office and business structure,” he said.

“We will continue to seek value-crating portfolio opportunities on the farming and logistics front, while alos investing in improved farming methods and technologies with a focus on efficiencies, employee health and safety and the environment and sustainable outcomes.”

Agrinova, a consortium of Riverina farmers, had also bid for BFB but were not taken up despite the group claiming they offered substantially more cash upfront and a $120 million ongoing investment. 

Spread from the Riverina to the mid Lachlan Valley, BFB’s business includes a 332,000-tonne grain storage site owned in partnership with global farm commodities giant, Cargill.

Temora-based BFB started out as a trucking company in the late 1980s, expanded into cropping and storage, and now includes a piggery plus fuel and fertiliser distribution operations.

BFB has amassed 28 properties, including at Henty, Gundagai and West Wyalong, and employs 138 people and produces about 110,000 tonnes of wheat, barley and canola a year.

BFB was previously majority owned by North American group Proterra.