Canadian Viterra Ltd., a company owned by commodities firm Glencore, has entered into a stock purchase agreement with Marubeni to acquire the American competitor Gavilon, for US$ 1.125 billion, plus working capital. Marubeni said it expected to gain a total of US$ 3.5 billion, according to Reuters. Viterra reached a US$ 28 billion revenue in 2020, and is expanding its agricultural products negotiations, mainly in the United States, but also in Mexico, South America, Europe and Asia. In Brazil, Gavilon’s net revenue was close to R$13 billion in 2020; globally, it has earned more than US$ 20 billion. Gavilon is currently focused on the business of grain, oilseeds, and ingredients for human and animal food products, in addition to ethanol. “The addition of Gavilon supports our long-term strategy of significantly increasing our presence in the United States, one of the major producing and exporting regions, which will further strengthen our global network, said David Mattiske, CEO of Viterra.
Source: Valor Econômico (*Translated by Ia Niani)