Tereos Internacional, the overseas unit of French sugar giant Tereos Group, has snapped up Brazilian sugar processor Usina Mandu in a deal worth BRL345m (US$188.4m).
The acquisition of Mandu, based in north-west Brazil, was announced yesterday (31 May) and made through a subsidiary of Acucar Guarani, itself part of Tereos Internacional.
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Acucar Guarani is the fourth-largest sugar producer in Brazil and a key part of Tereos’s plans to expand in Latin America.
In March, Tereos announced plans to merge Acucar Guarani, its Indian Ocean sugar cane assets and its European cereal operations to form a business generating US$2.5bn in sales.
The new company, Tereos Internacional, is to be based in Sao Paulo but listed in Brazil and France and will produce sugarcane, ethanol, starch and starch sweeteners across over 100 markets.
The plan to create Tereos Internacional should be completed this month following an EGM to approve the move.
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