22 August 1997
Marc Rich buys Gilbro
MARC RICH, one of the worlds most successful commodity traders, is expanding into grain trading by buying the grain activities of Gilbro. Gilbro is a private Geneva company. It is Mr Richs first acquisition since he set up the Marc Rich Group in late 1995.
Gilbro will give Richs existing small operation a “jump start” in grain trading, where he wants to be a global player.
The acquisition is a sign that Rich is intent on rebuilding a commodity trading empire to challenge the giants.
Frank Gleeson, one of Gilbros developers, is joining Marc Rich Group to head its agricultural commodity trading operation.