BOULDER, Colo., July 26, 2024 /PRNewswire/ -- Pinnacle Asset Management, L.P. ("Pinnacle"), a New York-based alternative asset management firm focused on global commodities markets, today announced that its portfolio company Viserion Grain, LLC ("VGC" or the "Company"), a subsidiary of global agricultural merchant Viserion International Holdco, LLC ("Viserion International"), has acquired four grain elevator assets from Greenfield Grain, LLC. The assets are located in Parkdale, Arkansas, and Dunn, Crowville, and Lake Providence, Louisiana. Terms of the transaction were not disclosed.

Established in 2021, VGC is led by a dedicated team of grain industry veterans whose mission is to connect local producers to domestic and international agricultural supply chains. VGC provides comprehensive services to flexibly support its customers' needs, including marketing, transportation, commercial management, and grain storage solutions from northern Iowa to southern Louisiana along the nation's inland waterways. 

Jason M. Kellman, Managing Partner and Chief Investment Officer of Pinnacle, commented, "The addition of these strategic assets to VGC's growing portfolio will materially expand the Company's ability to connect local producers to the domestic and international agricultural value chain. It will also position VGC to continue serving its customers' grain storage, transportation, and commercial management needs across the central and southern U.S."

"This acquisition demonstrates our unwavering commitment to the U.S. agriculture industry and to continually enhancing our origination capabilities for our valued customers," said Tim Gallagher, President of VGC. "Expanding our footprint in the deep south with these grain elevator assets will help VGC to reliably supply high-quality grains to meet the evolving demands of domestic and global agriculture markets."

Tom Russell, VGC's Southern Region Area Manager, commented, "VGC's broad geographic spread, combined with our strong commercial background and expertise managing river assets, provide us a comprehensive view of the market and logistical flexibility that few independent companies can replicate. We are excited to acquire and operate these new assets and look forward to serving our growing base of producers."

About Viserion Grain, LLC
Viserion Grain, LLC ("VGC") is a grain company supported by management with strong experience in the grain industry. It is owned by Viserion International Holdco, LLC, a Colorado-based global agricultural merchant formed with the financial backing of funds managed by Pinnacle Asset Management, L.P. To learn more, visit www.viseriongrain.com.

About Viserion International Holdco, LLC 
Viserion International Holdco, LLC ("Viserion International") is a global agricultural merchant based in Boulder, Colorado. To learn more, please visit www.viserion.co.

About Pinnacle Asset Management, L.P. 
Founded in 2003, Pinnacle Asset Management, L.P. ("Pinnacle") is a private, New York-based alternative asset management firm focused on the global commodities markets with over $6 billion of assets under management. Pinnacle provides its institutional investor base with exposure to the global commodities markets via physical and financial absolute return strategies and products. Pinnacle is an investment adviser registered with the Securities and Exchange Commission; is a commodity trading adviser and commodity pool operator registered with the Commodity Futures Trading Commission; and is a member of the National Futures Association.

Contacts

Kelly Buchanan
985-302-2015
kelly@oakalleyconcepts.com

Jonathan Gasthalter/Iain Hughes
Gasthalter & Co.
(212) 257-4170

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SOURCE Pinnacle Asset Management