Rice supplier Camil reportedly planning autumn 2017 IPO

Rice supplier Camil reportedly planning autumn 2017 IPO

Brazilian food processor Camil Alimentos is said to be planning an initial public offering of shares with pricing slated for the second week of October.

The company has reportedly hired Bank of America Merrill Lynch, JPMorgan Chase & Co., Banco Santander Brasil, Bradesco BBI and Itau Unibanco Holding for the offer. Camil Alimentos aborted a plan to sell shares in 2011, citing market conditions.

The sale will reportedly consist of two parts: a primary offering, where the money raised will go to the company, and a secondary portion in which current shareholders will sell part of their stakes. US private-equity firm Warburg Pincus will reportedly offload part of its 31% holding in Camil.

Over the last decade, Camil Alimentos has sought to expand internationally, making acquisitions in Uruguay and Chile.

The company, which markets products include rice, beans and biscuits, has 12 production plants in Brazil, 9 in Uruguay and 4 in Chile, according to its website.