Led by a private investment firm, Killer Whale Holding, Captain Drake LLC acquired the million-bushel grain terminal, with dedicated rail, in North Dakota to provide its clients with a facility to handle the exploding demand for non-GMO commodities.
"We consider this to be another strategic asset for our food and beverage clients seeking suppliers committed to guaranteeing the integrity and purity of non-GMO commodities throughout the supply chain. Producers know commodities stored, transported or commingled with GMO product can become contaminated," said Mark Anderson, president. "By providing growers and end users this key facility, Captain Drake will consolidate and streamline the sourcing of non-GMO grain in the Red River Valley. Non-GMO seed cost less, has similar yields, and the farmer can obtain a premium for their product."
Approximately 94% of all corn and soybeans grown in the U.S is genetically modified. Anderson believes "it is very possible that the next boom in ND won't be oil, but non-GMO, and identity preserved corn and soybeans."
While the U.S and Canada still have no mandatory labeling laws, more than 64 countries do, and 88% of U.S consumers demand to know if their food contains GM ingredients. The domestic non-GMO market is growing by double digits and is the fastest growth food category with approximately $13 billion in sales.
Captain Drake LLC (www.captdrake.com), is privately held, WBENC certified, and headquartered in Minnetonka MN, was launched in 2013 to specifically source and handle non-GMO food and beverage ingredients from around the globe. It and has gained the necessary Non-Project Verified Certification (www.nongmoproject.org) for its citric acid, sodium citrate, potassium citrate, conventional cane and organic cane sugar. The company's customers are supported with a JIT supply chain through 12 strategically locate warehouses.