On November 25, 2024, Alcogroup announced the acquisition of Integrated Grain Processors Co-operative Inc. (IGPC) through its subsidiary, Alco Energy Canada. The transaction closed on December 17, 2024, under a court-approved plan of arrangement, converting IGPC from a co-operative to a business corporation.

IGPC, Canada’s second-largest ethanol producer, adds 380 million liters of fuel-grade ethanol to Alcogroup’s existing 1 billion liters, increasing its total annual production to 1.4 billion liters. This acquisition expands Alcogroup’s geographic reach beyond Belgium and the Netherlands, strengthening its North American presence. The deal was approved by IGPC shareholders, the European Commission, and Canadian competition authorities.

Wildeboer Dellelce LLP acted as legal counsel for IGPC. Financial details were not disclosed, but Urbana Corporation, an 18.7% stakeholder in IGPC, reported receiving approximately $11.9 million in dividends before the sale and expects around $64.8 million from sale proceeds and further distributions.