In a lightning operation, which is expected to go from due diligence to acquisition in less than a month, Minerva is preparing the purchase of Breeders & Packers Uruguay. The Brazilian multinational meat company would buy the company (should the deal close successfully) from the Japanese holding company NH Foods. The terms of the transaction are not known, but the Brazilian newspaper Valor Economico surmises that the deal would be for between USD 35 million and USD 45 million.
The purchase of Breeders & Packers
Reuters broke the news first. Minerva has submitted a non-binding offer to take over Breeders & Packers Uruguay from the Japanese’s NH Foods. The route, the agency first wrote, includes due diligence to be completed by the end of 2022. Reuters later specified that, according to more up-to-date rumours, the same deal is expected to be completed by 15 December. “The transaction allows Minerva,” the agency concluded, “to maximise geographic diversification through alliances and partnerships”.
Photo from the web portal of Breeders & Packers Uruguay
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