| BALGONIE, Saskatchewan
BALGONIE, Saskatchewan Aug 30 Saskatchewan
Wheat Pool SWP.TO will now be known as Viterra, a name it
believes better reflects the breadth of its business, Canada's
largest grain handler said on Thursday.
Saskpool revealed its new name and logo at its modern
Buffalo Plains concrete terminal east of the provincial capital
of Regina to a crowd of grain trade and Prairie political
The name change invoked nostalgia in the province, where
"The Pool" had dominated since the 1920s, when it was started
as a co-operative by farmers who wanted to get better prices
for their wheat, and to share in patronage dividends.
But Saskpool went public more than a decade ago, and it
shed its farmer-controlled governance after a financial
overhaul forced by a close call with insolvency.
Now New York fund Third Avenue Management LLC is Saskpool's
largest shareholder, with a 16 percent stake.
Earlier this year, Saskpool swallowed its larger
competitor, Agricore United, after a C$1.8 billion ($1.7
billion) takeover battle, and the new name -- which some wags
said sounded like the impotence drug Viagra -- is part of that
transformation. Agricore itself was a merger of three former
farmer-owned grain handlers.
Saskpool has a stock market value of C$2.149 billion and
controls more than 40 percent of Canada's grain market.
Saskpool shares were up 8 Canadian cents at C$10.75 on the
Toronto Stock Exchange on Thursday.
Aside from its Prairie-wide grain network and export
terminal space, Saskpool also owns crop supply retail centers,
livestock and feed operations, an oat miller and other