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Bunge to gain controlling interest in Grupo Minsa

Posted: 2 September 2016 | | No comments yet

Bunge North America has announced that it plans to invest in Grupo Minsa S.A.B. de C.V. and will subsequently secure a controlling stake in the company…

bunge-corn-takeover

Bunge North America has announced that it plans to invest in Grupo Minsa S.A.B. de C.V. and will subsequently secure a controlling stake in the company.

bunge-corn-takeover

It is thought that the deal will close in 2017 if passed by the Comisión Federal de Competencia Económica (Mexican Antitrust Commission).

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“The operation is aligned with our core capabilities and increases the share of value-added business in our overall portfolio.”

As part of the transaction, Bunge will assume control of four mills in Mexico and two mills in the United States which have themselves a total annual production capacity of 700,000 tonnes.

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In a statement by a spokesperson for Bunge:

“This investment enhances Bunge’s position in milling, an important contributor to our global Food & Ingredients business,” said Soren Schroder, chief executive officer (CEO), Bunge Ltd.

“The operation is aligned with our core capabilities and increases the share of value-added business in our overall portfolio.”

The deal comes as the latest in a series of transactions for the North American ingredients supplier including a proposed agreement with Cargill and a secured joint venture in Vietnam with Wilmar as Bunge seeks to expand its global reach.

The proposed transaction with Grupo Minsa S.A.B. de C.V. essentially aims to broaden its portfolio of branded corn flours and pre-mixes for tortillas and other goods.

“This is a natural extension of our successful milling platforms in the U.S. and Mexico that will enable us to expand in a product line that is growing due to demographic and economic trends,” stated Todd Bastean, CEO, Bunge North America.

“With more facilities, products, and capabilities, we’ll be able to provide a broader offering and enhanced services to our growing customer base, with more logistical and operational flexibility.”

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