US food and agribusiness giant Cargill has announced that it has reached an agreement to acquire a majority share of Seara Alimentos, a Brazilian branded poultry and pork processor.
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Cargill has proposed to acquire a majority interest in Seara from Bevrexas, a Dutch subsidiary of Mutual Investment Limited. Cargill intends to tender for the remainder of Seara’s shares by way of a public offer in Brazil. Cargill said the transaction is subject to approval by regulatory authorities.
“The acquisition of Seara is an opportunity for Cargill to enter a new line of business in Brazil. Brazil is well positioned to help meet the increasing demand for high quality poultry, pork and value-added food products around the world. Cargill and Seara are committed to working together to grow the business and access new markets,” said Sergio Barroso, president of Cargill Brazil.
Seara is one of Brazil’s major poultry and pork processors and has nine plants in the states of Santa Catarina, Parana, Sao Paulo and Mato Grosso do Sul.
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By GlobalData
