Key Stats
Founded: 1865
Headquarters: Minnetonka, Minnesota, USA
Chairman & CEO: Brian Sikes (since January 2023; Board Chair since January 2024)
Employees: Approximately 160,000
Ownership: Private (Cargill-MacMillan family owns approximately 88%)
Cargill, Incorporated is an American multinational food and agricultural conglomerate headquartered in Minnetonka, Minnesota. Founded in 1865 by William Wallace Cargill as a single grain warehouse in Iowa, the company has grown into the largest privately held corporation in the United States by revenue. The Cargill and MacMillan families have maintained ownership for over 150 years, with approximately 88% of the company still held by descendants of the founders.
Cargill’s operations span the global food supply chain, encompassing grain trading and processing, animal nutrition, meat and poultry production, food ingredients, agricultural financial services, and industrial products including steel and salt. The company operates in 70 countries and serves customers in 125 markets worldwide. Cargill is responsible for approximately 25% of all U.S. grain exports and supplies about 22% of the domestic meat market, making it a supplier to major food companies and restaurant chains including McDonald’s.
For fiscal year 2024, Cargill reported revenues of $160 billion, a decline from record highs of $177 billion in fiscal years 2022 and 2023. The company recorded its highest-ever earnings of $6.2 billion in fiscal 2022 amid surging commodity prices following the Russian invasion of Ukraine. In 2024, Cargill reorganized from five divisions into three business enterprises: Food, Ag & Trading, and Specialized Portfolio. Brian Sikes, the company’s 10th CEO, has served as chairman and CEO since January 2024.
Cargill History
1865
Company Founded
William Wallace Cargill purchases a grain warehouse in Conover, Iowa, at the terminus of the McGregor & Western Railroad, establishing the foundation of what would become the world’s largest private company.
1912
Cargill Elevator Company
Following W.W. Cargill’s death in 1909, the company is renamed Cargill Elevator Company under the leadership of John MacMillan Sr., who consolidates operations in Minneapolis.
1930
Incorporation
The company incorporates as Cargill, Incorporated. Throughout the 1920s and 1930s, Cargill expands internationally, opening offices in Canada (1928), Europe (1929), and Latin America (1930).
1953
Global Expansion
Cargill establishes TRADAX in Switzerland to conduct European business and acquires Kerr Gifford to expand into Asian markets, marking its transformation into a global trading company.
1979
Meat Processing Entry
Cargill enters the beef processing business with the purchase of MBPXL Corporation (later renamed Excel Corporation), which becomes the foundation of Cargill Meat Solutions.
1999
Continental Grain Acquisition
Cargill acquires Continental Grain’s worldwide grain trading operations, solidifying its dominant position in global grain markets.
2011
Provimi Acquisition
Cargill completes the €1.5 billion ($2.1 billion) acquisition of Provimi, a Netherlands-based global animal nutrition company, strengthening its position as a top-three global animal nutrition company.
2023
New Leadership
Brian Sikes becomes Cargill’s 10th CEO. The company achieves record revenues of $177 billion and reorganizes into three business enterprises: Food, Ag & Trading, and Specialized Portfolio.
Cargill Founder
Cargill was founded by William Wallace Cargill, and leadership later passed to the MacMillan family through marriage, creating a dynasty that has controlled the company for over 150 years.
William Wallace Cargill
William Wallace Cargill (1844–1909) was born in Port Jefferson, New York, to Scottish immigrant parents. His family moved to Janesville, Wisconsin, in 1856. In 1865, at age 20, Cargill purchased a grain warehouse in Conover, Iowa, at the end of the McGregor & Western Railroad line, capitalizing on post-Civil War railroad expansion. His brothers Sam and Sylvester joined him in 1867, and the business expanded rapidly. By 1885, the Cargill brothers controlled more than 100 grain storage facilities with total capacity exceeding 1.6 million bushels. In 1875, Cargill moved headquarters to La Crosse, Wisconsin, and built his first grain elevator in 1880. He died of pneumonia in 1909, leaving behind significant debts that created a fiscal crisis for the company. His entrepreneurial spirit and the business principles he established continue to influence Cargill’s operations today.
John H. MacMillan Sr.
John H. MacMillan Sr. (1869–1940) married William Cargill’s daughter Edna Clara in 1895 and joined the company in 1898. Following W.W. Cargill’s death in 1909, MacMillan took control and steered the company through a debt crisis by issuing $2.25 million in Gold Notes, which were paid off ahead of schedule by 1915 thanks to high grain prices during World War I. He consolidated operations in Minneapolis and established Cargill’s strategy of international expansion, opening offices in Canada (1928), Europe (1929), and Latin America (1930). MacMillan ran the company until his retirement in 1936, transforming it from a regional grain handler into an international trading company. The MacMillan family has remained intertwined with the Cargills through subsequent generations, with the combined Cargill-MacMillan family still controlling approximately 88% of the company today.
Cargill Acquisitions
Cargill has expanded well beyond its grain trading origins through decades of strategic acquisitions across food processing, animal nutrition, meat, and industrial sectors.
The company’s acquisition strategy accelerated in the 1970s and 1980s following the Soviet grain purchases that drove up agricultural prices and generated record profits. Key purchases during this period included meatpacker MBPXL (later Excel) in 1979, North Star Steel in 1974, and Ralli Bros. and Coney (cotton, rubber, and fiber trading) in 1981. The 1999 acquisition of Continental Grain’s worldwide trading operations, Cargill’s chief rival, solidified its dominant position in global grain markets.
In the 2000s, Cargill continued expanding through major acquisitions including Agribrands International ($580 million, 2001) for animal feed, Cerestar (2002) for starches and sweeteners, and Provimi (€1.5 billion/$2.1 billion, 2011) for animal nutrition. The company entered aquaculture with the $1.5 billion acquisition of EWOS in 2015. More recent acquisitions include Croda’s bio-based industrial business ($1 billion, 2022), the Sanderson Farms/Wayne Farms poultry joint venture with Continental Grain (2021), and Delacon (2022) for plant-based feed additives. In 2025, Cargill acquired SJC Bioenergia to expand into renewable transportation fuels.
Cargill Revenue
As the largest privately held company in the United States, Cargill’s revenue has fluctuated with global commodity prices. The company achieved record revenues during the pandemic and Ukraine war period before declining in fiscal 2024 amid lower commodity prices.
Cargill Competitors
Cargill competes with other major agricultural commodity traders and food companies. The “ABCD” companies—Archer Daniels Midland, Bunge, Cargill, and Louis Dreyfus—collectively control 50-60% of international trade in wheat, corn, and soybeans.
| Company | Headquarters | Primary Focus |
|---|---|---|
| Archer Daniels Midland (ADM) | Chicago, Illinois, USA | Grain processing, food ingredients, biofuels |
| Bunge Limited | St. Louis, Missouri, USA | Oilseed processing, edible oils, milling |
| Louis Dreyfus Company | Rotterdam, Netherlands | Grain and oilseed trading, processing |
| COFCO International | Geneva, Switzerland | Agricultural commodity trading |
| Wilmar International | Singapore | Palm oil, edible oils, agribusiness |
| Tyson Foods | Arkansas, USA | Meat and poultry processing |
| JBS S.A. | São Paulo, Brazil | Meat processing |
| Viterra | Rotterdam, Netherlands | Grain handling, trading, processing |
| CHS Inc. | Minnesota, USA | Cooperative grain handling, energy |
| Glencore Agriculture | Baar, Switzerland | Commodity trading, agriculture |
FAQs
Is Cargill a public company?
No, Cargill is a privately held corporation and has never been publicly traded. It is the largest private company in the United States by revenue. The Cargill and MacMillan families, descendants of founder William Wallace Cargill and his son-in-law John MacMillan, own approximately 88% of the company. About 25 family members maintain controlling ownership.
What does Cargill do?
Cargill operates across the global food and agricultural supply chain. Its businesses include trading and processing grains and oilseeds, meat and poultry production (including beef, turkey, and chicken), animal nutrition and feed, food ingredients (starches, sweeteners, oils), cocoa and chocolate, financial risk management services, and industrial products including salt and steel trading. The company is responsible for 25% of U.S. grain exports and supplies about 22% of the domestic meat market.
Who is the CEO of Cargill?
Brian Sikes has served as Cargill’s Chairman and CEO since January 2024. He became CEO in January 2023 and was elected Board Chair a year later. Sikes is the 10th CEO in Cargill’s 160-year history. He joined the company in 1991 and previously served as Chief Operating Officer and led Cargill’s global Protein and Salt enterprise.
How large is Cargill?
Cargill is the largest privately held company in the United States. It employs approximately 160,000 people, operates in 70 countries, and serves customers in 125 markets. In fiscal year 2024, the company reported revenues of $160 billion. At its peak in fiscal years 2022-2023, revenue reached $177 billion.
What is the ABCD of grain trading?
The “ABCDs” refer to the four dominant global grain trading companies: Archer Daniels Midland (A), Bunge (B), Cargill (C), and Louis Dreyfus (D). Together, these companies control an estimated 50-60% of international trade in wheat, corn, and soybeans. Cargill is the largest of the four. In recent years, Chinese state-owned company COFCO International has emerged as a significant competitor, leading some to expand the acronym to “ABCCDs.”
