Richardson's spending like the government

[rockpile]

I just read that Richardson's spent slightly over 1 billion on a pipeline network and 4 truck terminals. And not long ago they paid over 900 million for Viterra assets. Where the hell do they get the money from? Any impact on the grain handling side, maybe?

[bucket]

Where the hell do they get the money from?


1. Margin on grain not on an exchange. Locally they are buying durum.....very good margins.

2. They have been in the oil and gas industry for quite a awhile. ...buying at a low....

3. They bought grain assets at a low....

4. They have a good arrangement with the other grain handling families.....no one is getting out of line or upsetting the apple cart.....easy pickings us farmers.

5...easy pickings us farmers.

6. TPOs are the grain cos best friend.

[jamesb]

Richardsons is a privately held company. the money they spend is their own. I am sure the cost of the Enbridge assets is less than it would have been had they bought when oil was high. There is a lot of good buys in the oil patch for those with the money and the faith in the future of the industry. Tundra is their oil company that they have had for years.

[bucket]

Jamesb

Trudeau might be shaking the faith in the energy sector until 2019.....gives them lots of time to buy up assets.

Pretty sure someone from Richardson has paid the 1500 plate fee for some talks....lol

[rockpile]

True enough Bucket as this increases their energy holdings 5 fold. Good points Jamesb. I guess they are like firemen. They run in when everyone else is running out. So one of Canada's richest families is spending their own money. Good on them.

[bucket]

I suspect they will be increasing their grain car fleet soon so that you see more Richardson on the grain car at each of their locations. .... ..


I do agree they are growing at a moderate pace and to be fair....they have been very good to deal with on grain....the cheques never bounce.....lol.

[farmaholic]

"....they have been very good to deal with on grain....the cheques never bounce.....lol."


...subliminal sarcasm

Too funny

[sumdumguy]

They built a nice research farm at Richardson too. Looks like they are rolling right along.

[bucket]

Always makes me wonder how sask wheat pool ****ed up so bad.....

[sumdumguy]

As soon as SWP went public, the writing was on the wall. Then a few hotshot overpaid CEO's and next thing you know, we're for sale.

[bobofthenorth]

As soon as SWP went public, the writing was on the wall. Then a few hotshot overpaid CEO's and next thing you know, we're for sale.

Not to mention building a grain terminal in Poland in a port that deep sea vessels couldn't access, buying donut stores that they didn't know jack $hit about, opening expensive marketing offices in exotic foreign locations, making stupid trades ...............