ST. LOUIS — Seara Alimentos S.A. has reached an agreement to acquire the Brazil-based margarine and mayonnaise assets of Bunge Ltd. Financial terms of the transaction were not disclosed.
Bunge said the transaction includes three production plants and the brands used for margarine and mayonnaise. As part of the agreement, Bunge said the two companies have negotiated supply, toll manufacturing and brand license agreements. Other branded products, including packaged oils, shortenings and specialty oils, will remain with Bunge, the company said.
“This transaction further streamlines our operations in Brazil around our core capabilities, while providing good value for a solid business,” said Greg Heckman, chief executive officer of Bunge. “It also represents another incremental step in executing a key priority of optimizing our overall portfolio.”
Headquartered in São Paulo, Brazil, Seara Alimentos is a Brazilian food processing company that specializes in the development and distribution of meat products.