JBS S.A. announced Dec. 20 that its controlled entity Seara Foods has entered into an agreement to purchase margarine assets from Bunge Foods S.A. in Brazil for approximately $170 million (700 million reals).

The transaction includes three strategically located production facilities in Gaspar, São Paulo and Suape, Brazil. As per the agreement, several brands will be acquired, including Delícia, Primor and Gradina -- the latter focused on the foodservice segment.

“This acquisition strengthens Seara's position in the Brazilian margarine segment, optimizing its distribution platform, and is aligned with the company's strategy to expand its portfolio of value-added and branded products,” the company said.

The closing of the transaction is subject to the approval of the Brazilian Administrative Council for Economic Defense--CADE, among other usual conditions for this type of transaction.