Bunge Brazil announced Sept. 22 that it has signed a definitive agreement to acquire a minority stake in Agrícola Alvorada, a grain and agricultural resale company.
Bunge said the strategic transaction strengthens its operations, leveraging its grain origination business.
Agrícola Alvorada, headquartered in Primavera do Leste in the state of Mato Grosso, Brazil, has nine branches in six municipalities of Mato Grosso. The acquisition extends Bunge's reach to small and medium-size producers in the region, the company said.
"This is a very interesting transaction for Bunge. We are always looking for opportunities that contribute to our goal of bringing more value to our relationships with producers and creating new ways to go to the market, "said Raul Padilla, president and chief executive officer of Bunge Brazil.
Jarbas Weis, president of Agrícola Alvorada, said this benefits the company as it strengthens business and maximizes opportunities.
Agrícola Alvorada has a storage capacity of 650,000 tons and markets 2 million metric tons of soy and corn per year.