São Paulo, 20 – Bunge, the world leader in the processing of oilseeds and in the production and supply of special vegetable oils and fats, announced on Wednesday night (19) that it will acquire a 33% stake in Sinagro, an important grains and agricultural products, with relevant operations in the Cerrado region. The value of the deal was not disclosed.
With 20 years of experience, Sinagro has its origination strategy focused on producers and supported by its more than 30 units, including stores and warehouses. Strategically positioned in relation to suppliers, farmers and end customers, it is present in seven Brazilian states: Mato Grosso, Mato Grosso do Sul, Goiás, Bahia, Tocantins, Pará and Minas Gerais. As reported on the company’s website, at the end of June 2015, the alliance with UPL, the largest agrochemical company in India, was formalized.
The vice president of Agribusiness at Bunge, Rossano de Angelis Junior, said in a statement that “this transaction will contribute to Bunge’s grain origination capacity and its access to producers in the region. Furthermore, as Sinagro already uses the same socio-environmental criteria for evaluating suppliers as Bunge, it is in line with our global vision of being the preferred partner in sustainable solutions for oilseeds, commodities and related ingredients, both for farmers and for end customers.” .
“Bunge’s participation should contribute to Sinagro on several fronts. In addition to its expertise in origination, logistics and risk management, Bunge has an outstanding global reputation and a strong presence in Brazilian agribusiness, which together with UPL will strengthen Sinagro’s foundations. In addition, this transaction will accelerate Sinagro’s expansion plan, which is, after all, the main objective”, also states in the note the CEO of UPL Brazil, Rogério Castro.
The deal is subject to approval by the Administrative Council for Economic Defense (Cade).
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