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Bunge acquiring stake in Sinagro

Company has network of more than 30 stores and warehouses, footprint across seven Brazilian states.

Bunge Ltd. is acquiring a 33% stake in Sinagro to strengthen its grain orientation strategy in Brazil, shareholders in Sinagro recently announced.

Sinagro is a major reseller of grains and agricultural products with a significant presence in Brazil's “Cerrado” savanna region. Bunge is one of the world leaders in sourcing, processing, and supplying oilseed and grain products and ingredients. The deal is subject to approval by Brazil's antitrust body, Conselho Administrativo de Defesa Econômica (CADE).

For more than 20 years Sinagro's strategic focus has been supporting producers, and with a network of more than 30 stores and warehouses, and a footprint across seven Brazilian states (Mato Grosso, Mato Grosso do Sul, Goiás, Bahia, Tocantins, Pará, and Minas Gerais), Sinagro is strategically positioned to support suppliers and final customers alike.

Sinagro was one of the first signatory companies to join Bunge's Sustainable Partnership, a groundbreaking initiative launched in 2021, whereby Bunge helps grain resellers set up socio-environmental assessment systems for suppliers – including satellite monitoring – at the farm level. Program participants can adopt independent geospatial imaging services or use Bunge's structure at no cost.

"With this deal, we further strengthen our partnership with Bunge in a relationship that will generate mutual benefits,” Renato Guimaraes, president of Sinagro. “ On our side, Bunge's expertise in risk management and its logistics capacity maximizes our opportunities in the grain market, while we are aligned on sustainable, traceable, and verifiable production in the Brazilian Cerrado."

Rossano de Angelis Junior, agribusiness vice president of Bunge, commented, "This transaction will contribute to Bunge´s grain origination capabilities and to its access to producers in the region. In addition, Sinagro and Bunge are closely aligned on their global vision of being the preferred partner in sustainable solutions for oilseeds, commodities, and related ingredients, both for farmers and end customers.”

TAGS: Business
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