|Company name||Cargill, Inc.|
|Slogan||Nourishing Ideas. Nourishing People.|
|Headquarters||Minnetonka, Minnesota, US|
|Key people||Gregory R. Page (CEO)|
|Products||Crop and livestock, food, Health & Pharmaceutical, Industrial & Financial & Risk Management, Electricity and gas|
|Revenue||(+)$119.5 billion (2011)|
|Operating income||(+)$4.6 billion (2011)|
|Net income||(+)$4.24 billion (2011)|
|Employees||131,000 (2011)|| |
Cargill, Incorporated is a privately held, multinational corporation based in Minnetonka, Minnesota. Founded in 1865, it is now the largest privately held corporation in the United States in terms of revenue. If it were a public company, it would rank in the top 10 companies in the Fortune 500. Some of Cargill's major businesses are trading, purchasing and distributing grain and other agricultural commodities; trading in energy, steel and transport; the manufacture and sale of livestock and feed; producing food ingredients such as starch and glucose syrup, vegetable oils and fats for application in processed foods and industrial use. Cargill also operates a large financial services arm, which manages financial risks in the commodity markets for the company. In 2003, it split off a portion of its financial operations into a hedge fund called Black River Asset Management, with about $10 billion of assets and liabilities. It owned 2/3 of the shares of The Mosaic Company (sold off in 2011), one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients.
Cargill declared revenues of $116.6 billion and earnings of $3.33 billion in the 2009 fiscal year. Employing over 130,000 employees in 66 countries, it is responsible for 25% of all United States grain exports. The company also supplies about 22% of the US domestic meat market, exporting more product from Argentina than any other company and is the largest poultry producer in Thailand. All of the eggs used in McDonald's restaurants in the US pass through Cargill's plants. It is the only producer of Alberger process salt in the US, which is highly prized in the fast-food and prepared food industries.
Cargill remains a family-owned business, as descendants of the founder (from the Cargill and MacMillan families) own over 85% of the company. As a result, most of its growth has been due to reinvestment of the company's own earnings rather than public financing. Gregory R. Page, who is not part of either the Cargill or MacMillan families, is the chief executive officer of Cargill. He succeeded former CEO Warren Staley in mid-2007, as Staley hit Cargill's mandatory retirement age of 65.