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CARGILL TO TAKE FULL CONTROL OF CORN AND SUGAR PROCESSOR SJC BIONERGIA OF BRAZIL
Feb. 10, 2025
Source: Cargill news release
SÃO PAULO, BRAZIL - Cargill continues to advance its growth strategy in the Brazilian market and reinforces its investment in renewable energy. The company signed the sales purchase agreement for a 50% stake in SJC Bionergia, which, added to the 50% already owned by Cargill, represents full control of the company.
"As Cargill celebrates 60 years of operations in Brazil, it continues to believe and invest in the country and in Brazilian agriculture. In recent years, we have invested more than R$6.8 billion in our operations and, if completed after due approval from regulatory bodies, have SJC as a company 100% controlled by Cargill is an important reinforcement of our growth strategy in renewable energy," says Paulo Sousa, president of Cargill in Brazil.
SJC Bioenergia, which was founded in 2006 and, since 2011, has had Cargill as one of its partners, has 4,500 employees and has two agro-industrial units in the municipalities of Quirinópolis and Cachoeira Dourada, both in Goiás. The company processes sugar cane and corn, producing raw sugar, hydrated and anhydrous ethanol, corn oil and dried distillers' grains (DDGs) with high protein content, in addition to generating electricity.
The transaction will be submitted to the Administrative Council for Economic Defense (CADE) and the closing of the operation is subject to approval by CADE and compliance with the conditions set forth in the contract.
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