The Canada Pension Plan Investment Board is investing in Agriculture.

The Board has signed an agreement to purchase a 40% stake in Glencore’s Agricultural Products Division.

Mark Jenkins, the Senior Managing Director for the CPP’s Investment Board, says as a long term investor agriculture is an excellent fit for them.

Glencore is the Swiss based commodities giant that purchased Viterra back in 2012, it has agriculture assets and operations in Canada, Australia, South America and Europe.

Last fall, Glencore PLC announced it was considering selling some of its Canadian grain handling assets in an effort to reduce the company’s debt.

The purchase will go through normal closing and regulatory approvals and is expected to close in the second half of 2016.