November 24, 2022
Minerva SA to buy Breeders & Packers Uruguay from Japan's NH Foods
Major Brazilian meatpacker Minerva SA has made an offer to buy Uruguay's Breeders & Packers, owned by Japan's NH Foods Ltd, Nasdaq reported.
Minerva said the transaction is subject to the successful completion of a due diligence procedure, and until then they will have exclusive closing rights up until the end of 2022.
The purchase is consistent with the company's plan to maximise its geographic diversification through the development of alliances and partnerships.
The information was previously reported by the newspaper Valor Economico, which also said the deal was anticipated to reach US$35 million to US$45 million and be completed by December 15 this year.
Minerva did not announce a figure for the purchase.
In August, Minerva purchased two processing plant investments in Australia, securing the Shark Lake and Great Eastern abattoirs in Western Australia.