São Paulo – Brazil’s Minerva Foods announced the buyout of nine meat companies from JBS Mercosul, including three units in Paraguay, one in Uruguay and five in Argentina, plus a meat processing unit and a distribution center in the latter country. Total investment was USD 300 million, to be rolled out via Minerva’s subsidiaries in each of the countries involved.
The new units will increase Minerva’s slaughtering capacity by 50%, from 13,700 to 26,400 head of cattle per day. The move marks the company’s entry into the Argentinian market. Besides Brazil, Uruguay, Peru and now Argentina, the company is also active in Colombia.
Minerva said in a press release that the acquisitions are part of its plan “to become the most diversified beef production platform in South America, which plays a prominent role in the global industry as the leading exporting region.”
*Translated by Gabriel Pomerancblum
