Bunge acquires Argentine Edible Oil; financial terms not disclosed
Bunge says that on April 11, Bunge Southern Cone and Aceitera Martinez S.A. announced that the two companies have entered into an agreement to transfer all of Aceitera Martinez's assets to Bunge. A family-run business for more than 60 years, Aceitera Martinez specializes in the production and packaging of edible oils, including sunflower and soybean oil. The acquisition covers all of the oil company's assets and includes a modern production plant located in San Jeronimo Sud, near Bunge's refining center. The facilities, equipped with state-of-the-art technology and three packaging lines, have an installed capacity of approximately 20,000 tons per month. "This acquisition allows us to strengthen our value-added position in the agrifood chain and ratifies Bunge's deep commitment to national production," said Enrique Humanes, CEO of Bunge Southern Cone. "In the coming years, our commitment will be to meet the demand for higher value-added products, expand our portfolio and generate a more appropriate asset allocation, all of which responds to Bunge's strategic vision for our Food & Ingredients business."