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Bunge, UPL and other Sinagro shareholders announce an agreement whereby Bunge will acquire 33%'s stake in the company. Sinagro is an important reseller of grains and agricultural products, with significant operations in the Cerrado region. The deal is subject to approval by the Administrative Council for Economic Defense (CADE).
“This transaction will contribute to Bunge’s grain origination capacity and its access to producers in the region. Furthermore, as Sinagro already uses the same socio-environmental criteria to evaluate suppliers as Bunge, it is aligned with our global vision of being the preferred partner in sustainable solutions for oilseeds, commodities and related ingredients, both for farmers and end customers” , says Rossano de Angelis Junior, vice-president of Agribusiness at Bunge.
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Sinagro was one of the first companies to join Bunge's Sustainable Partnership, a pioneering initiative launched in 2021, through which Bunge helps grain retailers implement socio-environmental supplier assessment systems, including satellite monitoring, on a farm scale. Program participants can adopt independent geospatial imaging services or use Bunge's structure at no cost.
“Bunge’s participation should contribute to Sinagro on several fronts. In addition to its expertise in origination, logistics and risk management, Bunge has an outstanding global reputation and a strong presence in Brazilian agribusiness, which combined with UPL will strengthen Sinagro's foundations. Furthermore, this transaction will accelerate Sinagro's expansion plan, which is, after all, the main objective”, says Rogério Castro, CEO of UPL Brasil.
With 20 years of experience, Sinagro has its origination strategy aimed at producers and supported by its more than 30 units, including stores and warehouses. Strategically positioned in relation to suppliers, farmers and end customers, it is present in seven Brazilian states: Mato Grosso, Mato Grosso do Sul, Goiás, Bahia, Tocantins, Pará and Minas Gerais.
“With this transaction, we further strengthen our partnership with Bunge in a relationship that will generate mutual benefits. On our side, Bunge's expertise in risk management and its logistical capacity expand our opportunities in the grains market, at the same time that we are aligned in favor of sustainable, traceable and verifiable production in the Brazilian Cerrado”, says Renato de Almeida Guimarães , president of Sinagro.
Clipping: DATA | Source: Investments and News
