Codrico

Background

For more than five decades, Codrico operated a corn milling facility at the Rijnhaven in Rotterdam, The Netherlands. Established in 1969, the company specialized in the processing of corn, grains, and other agricultural commodities into semi-finished products for the food and animal feed industries. Thanks to its strategic location in one of Europe’s largest ports, Codrico became a well-known supplier within the agricultural processing sector.

Following the decision to discontinue its corn processing activities, the complete production facility became available for sale. PIPM was selected to acquire and remarket the assets, ensuring maximum value realization while facilitating the relocation of the installation to a new production environment.

Equipment highlights

The available assets comprised a complete industrial corn milling facility, including processing, handling, storage, and supporting utility systems. The installation had been maintained and operated as an integrated production plant and included equipment from leading international manufacturers.

Key equipment included:

• Complete corn milling production facility
• Bühler milling and processing equipment
• Mettler Toledo metal detection systems
• Raw material intake and handling systems
• Storage silos and conveying equipment
• Process control and auxiliary installations
• Associated utility and supporting infrastructure

Transaction

PIPM acquired the assets and initiated a targeted private sales process aimed at international end-users within the grain and corn processing industry. Through its global network and industry expertise, PIPM identified multiple interested parties and facilitated negotiations with qualified buyers capable of relocating and recommissioning the facility.

The transaction ultimately resulted in the sale of the complete production installation to an industrial end-user in the South Asia region.

Result

The corn mill has been successfully sold, relocated and found new purpose on the other side of the world; a sustainable solution. Following the initial transaction, PIPM managed the full project, ensuring all assets were carefully dismantled and removed from the 5-floors high building, then all packed into 20x sea freight 40-foot containers and everything shipped to south Asia. The building was returned completely empty and broom clean, therewith providing a turnkey solution for all stakeholders.