Marc Rich buys Gilbro

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.