Cargill Buys Seara

Prepared Foods September 6, 2004 enewsletter

U.S. company Cargill has concluded the acquisition of Seara Alimentos SA, Brazil's third largest meat manufacturer, for $130 million.

Through its Brazilian unit Cargill Agricola SA, the company will purchase 52.4 billion common and preferred Seara shares, or 62% of the company's capital stock, according to a joint statement by the two companies sent to the Brazilian securities regulator CVM.

Cargill also announced that, once the transaction is approved by the regulating agencies, it will make an offer for Seara's remaining shares. "Brazil is very well-positioned on the international high-quality foods and pork and poultry markets, and the acquisition of Seara is a great opportunity for Cargill to enter a new sector," said Sergio Barroso, Cargill's chairman in Brazil.

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Switching from plastic to paper-based packaging often comes with new challenges. This webinar will explore how an ovenable, fiber-based packaging solution can deliver the benefits of plastic with 90% less plastic usage.

The Winter Fancy Food Show is where specialty food makers go to exhibit their newest and best products and where buyers go to find their next bestsellers.