Privately held agricultural commodities trader Louis Dreyfus Commodities has no plans for an initial public offering (IPO), according to its largest stakeholder. Instead, Margarita Louis Dreyfus, whose family lends its name to the company, intends to increase her stake to 80% after the trading house posted a modest uptick in corporate fortunes.
Net profit for 2014 came in marginally higher at $648 million, following a near-30% decline in 2013 as severe drought conditions in parts of the US dented revenue.
At a media conference on Thursday, Louis Dreyfus said: “We are a long-term investor, and to be a long-term investor it’s very important to have family control of the company.” While retaining a majority hold, she did not rule out the possibility of a strategic partner for the remaining 20%.
The company locks horns with the likes of Archer Daniels Midland (ADM), Bunge and Cargill in the soft commodities sphere, However, unlike many of its major peers, it has been in private hands since 1851.