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Cargill
Cargill, Incorporated is an American multinational food corporation that produces grain and other agricultural commodities such as palm oil, energy, steel, transport, livestock, feed, as well as food ingredients such as starch, glucose syrup, and vegetable oils for application in ultra-processed foods and industrial use. Cargill also has a large financial services arm that manages risks in the commodity markets for the company. Headquartered in Minnetonka, Minnesota, the company was founded in 1865 by William Wallace Cargill. As of 2023, Cargill was the largest privately held company in the United States in terms of revenue.
Cargill has been a subject of long-term and widespread scrutiny for a variety of issues, including child trafficking and child slave labor and other human rights abuses, union busting, ignoring worker safety during COVID-19, land grabbing, food contamination with mercury and E. coli, deforestation, air pollution, tax evasion, animal abuse, toxic spills, building on restorable wetlands, contributing to the antibiotic resistance crisis, and price fixing.
In 2003, the company split off a portion of its financial operations into Black River Asset Management, a hedge fund with about $10 billion of assets and liabilities. It previously owned two-thirds of the shares of The Mosaic Company (sold off in 2011), a producer and marketer of concentrated phosphate and potash crop nutrients.
Employing over 160,000 employees in 66 countries, Cargill is responsible for 25% of all United States grain exports. The company also supplies about 22% of the United States domestic meat market. It is the only US producer of Alberger process salt, which is used in the fast-food and prepared food industries.
Cargill has remained a family-owned business, with family having connections to descendants of the founder owning over 90% of the company. In January 2023, Brian Sikes was appointed as president and CEO.
Cargill was founded in 1865 in Conover, Iowa, by William Wallace Cargill. A year later William was joined by his brother Sam, forming W. W. Cargill and Brother. Together, they built grain flat houses and opened a lumberyard. In 1875, Cargill moved to La Crosse, Wisconsin, and their brother James joined the business.
Sam Cargill left La Crosse in 1887 to manage the office in Minneapolis, an important emerging grain center. Three years later, the Minneapolis operation incorporated as Cargill Elevator Co.; some years after that, the La Crosse operation incorporated as W. W. Cargill Company of La Crosse, Wisconsin. In 1898, John H. MacMillan Sr. and his brother, Daniel, began working for W. W. Cargill.
Upon Sam Cargill's death in 1903, William Cargill became the sole owner of the La Crosse office. John MacMillan was named general manager of Cargill Elevator Company and moved his family to Minneapolis. William Cargill died in 1909, with Cargill's debt creating a fiscal crisis for the company. The company issued $2.25 million in Gold Notes, backed by Cargill stock, to pay off its creditors. The Gold Notes were due in 1917, but record grain prices during World War I enabled all debts to be paid by 1915. MacMillan worked to resolve the credit issues and to force his brother-in-law, William S. Cargill, out of the company.
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Cargill
Cargill, Incorporated is an American multinational food corporation that produces grain and other agricultural commodities such as palm oil, energy, steel, transport, livestock, feed, as well as food ingredients such as starch, glucose syrup, and vegetable oils for application in ultra-processed foods and industrial use. Cargill also has a large financial services arm that manages risks in the commodity markets for the company. Headquartered in Minnetonka, Minnesota, the company was founded in 1865 by William Wallace Cargill. As of 2023, Cargill was the largest privately held company in the United States in terms of revenue.
Cargill has been a subject of long-term and widespread scrutiny for a variety of issues, including child trafficking and child slave labor and other human rights abuses, union busting, ignoring worker safety during COVID-19, land grabbing, food contamination with mercury and E. coli, deforestation, air pollution, tax evasion, animal abuse, toxic spills, building on restorable wetlands, contributing to the antibiotic resistance crisis, and price fixing.
In 2003, the company split off a portion of its financial operations into Black River Asset Management, a hedge fund with about $10 billion of assets and liabilities. It previously owned two-thirds of the shares of The Mosaic Company (sold off in 2011), a producer and marketer of concentrated phosphate and potash crop nutrients.
Employing over 160,000 employees in 66 countries, Cargill is responsible for 25% of all United States grain exports. The company also supplies about 22% of the United States domestic meat market. It is the only US producer of Alberger process salt, which is used in the fast-food and prepared food industries.
Cargill has remained a family-owned business, with family having connections to descendants of the founder owning over 90% of the company. In January 2023, Brian Sikes was appointed as president and CEO.
Cargill was founded in 1865 in Conover, Iowa, by William Wallace Cargill. A year later William was joined by his brother Sam, forming W. W. Cargill and Brother. Together, they built grain flat houses and opened a lumberyard. In 1875, Cargill moved to La Crosse, Wisconsin, and their brother James joined the business.
Sam Cargill left La Crosse in 1887 to manage the office in Minneapolis, an important emerging grain center. Three years later, the Minneapolis operation incorporated as Cargill Elevator Co.; some years after that, the La Crosse operation incorporated as W. W. Cargill Company of La Crosse, Wisconsin. In 1898, John H. MacMillan Sr. and his brother, Daniel, began working for W. W. Cargill.
Upon Sam Cargill's death in 1903, William Cargill became the sole owner of the La Crosse office. John MacMillan was named general manager of Cargill Elevator Company and moved his family to Minneapolis. William Cargill died in 1909, with Cargill's debt creating a fiscal crisis for the company. The company issued $2.25 million in Gold Notes, backed by Cargill stock, to pay off its creditors. The Gold Notes were due in 1917, but record grain prices during World War I enabled all debts to be paid by 1915. MacMillan worked to resolve the credit issues and to force his brother-in-law, William S. Cargill, out of the company.
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