Glencore’s global agriculture unit will rebrand its business by changing its name to Viterra later this year.
The unit will adopt the name of the company that the world’s biggest commodity trader bought in 2012, according to a statement Wednesday. The move comes four years after Glencore sold almost half of its agribusiness to the Canada Pension Plan Investment Board and British Columbia Investment Management Corp.
The agriculture unit has been in the process of separating from the parent company, setting up its own legal, technology and financial systems, a company spokeswoman said. The unit’s relationship with Glencore, which currently owns 49.99% of the agribusiness, remains intact, she said.