Minerva buys BPU Meats for 40 million dollars
In this way, Minerva Foods now has four beef slaughter plants in Uruguay (Carrasco, Canelones, Pulsa and BPU Meats) in which 602 thousand cattle were slaughtered in 2022, 25% of the total in the country.
Minerva Foods now has the same number of plants as Marfrig; between them they accumulate 51% of the 2022 slaughter.
In the statement, Minerva Foods highlighted that BPU Meats, until now owned by the Japanese NH Foods, "is one of the most modern beef refrigerators in South America, with a slaughter capacity of 1,200 cattle per day." He added that "it uses the highest technology in industrial processing, produces and exports meat with the highest levels of quality and food safety."
With this purchase, Minerva Foods now has a daily slaughter capacity of 3,700 cattle. "We are confident that the consolidation of our operations in Uruguay will allow for significant operational and commercial synergies, expanding arbitration opportunities in the international market," he said in the statement.
Yesterday NH Foods also issued a statement regarding the sale of BPU Meats to Minerva where it said that "in order for BPU to continue to grow in the future by building on its strengths, we have decided that the best way to do this is to transfer the shares of BPU to a partner outside of our group that shares our vision of growth in the beef business and can use new resources and sales networks".
And it adds that “we have determined that Minerva can take advantage of its resources, such as its commercial base and global network, and strengthen and expand its operations in Asia, North America and other regions to contribute to the sustainable growth of BPU and increase its corporate value. The decision to transfer the shares of BPU to Minerva was made based on this judgment and is in line with our strategy of portfolio optimization and concentration of management resources."
NH Foods reported that in the fiscal year to September 2022, the net sales of BPU Meats reached US$266.2 million, with positive net profits of US$5.03 million.
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