Brazilian food company Perdigao has sold a soybean crushing and oil refining plant to Bunge.
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The deal involves three contracts. The first involves the sale of the assets of the oil crushing plant, the soybean crushing and oil refining unit in Marau, state of Rio Grande do Sul. The plant has a capacity to process a thousand tons of soybeans daily. This transaction is representative of Perdigao’s objective of focusing on its core business of food production.
The unit will continue its soybean refining and filling operations for the Perdigao and Borela brand names for the next 90 days. Once this period has elapsed, the plant will cease operations and its 68 employees relocated to other areas of the Company. The real estate will remain with Perdigao, which will undertake a study as to how it can be used in the future. Perdigao will continue to operate the plant’s silos, which have a storage capacity of 40,000 tons.
The second contract provides for the licensing of the Perdigao and Borela soybean oil brands to Bunge for a seven-year period. Since oil refining is not part of Perdigao’s core business, the Company has taken the decision to license the brands, transferring the activity to Bunge.
In light of Perdigao’s decision to discontinue crushing activities in Marau, the third contract contains a commitment by Bunge to supply soybean meal to Perdigao’s animal feed plants in Catanduvas, Marau and Gaurama, also for a seven-year period.
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By GlobalData
