View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 28, 2021updated 08 Apr 2022 7:18am

Brazil’s Camil Alimentos enters deal for Ecuador rice producer Dajahu

Camil Alimentos plans to fund the deal with a loan from the International Finance Corporation.

By Simon Harvey

Brazilian food group Camil Alimentos has entered an agreement to acquire Agroindustrias Dajahu, a rice producer in Ecuador.

The transaction will be conducted via Camil Alimentos’ business unit in Ecuador, Camilatam Ecuador, for the assets and brands related to rice production and processing owned by Dajahu, according to a stock-exchange announcement.

Camil Alimentos said the proposed deal also includes Dajahu’s freight and transport business Transportes Ronaljavhu, which is based in Samborondon in Ecuador.

The acquisition price is equivalent to US$36.5m and will be funded with a loan from the International Finance Corporation, a Washington-based division of the World Bank that funds projects in developing countries. However, the loan from the IFC is subject to due diligence procedures and the completion of negotiations with Dajahu.

The Brazilian firm said in the exchange filing Dajahu is one of the top rice producers in Ecuador “with significant market share and high-growth potential”, adding the deal is in line with Camil’s plans to expand its presence in the Latin American market.

Founded in 1963, Camil manufactures products such as rice, beans, biscuits and canned fish, including the brands Union and Coqueiro. The company went public in 2017 and is headquartered in the municipality of Itaqui in the state of Rio Grande do Sul.

It has subsidiaries in Uruguay, Chile and Peru, with brand names such as Saman, Tucapel, Costeno and Paisana.

Related Companies

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food