Minerva S.A. completed the acquisition of Breeders & Packers Uruguay S.A from NH Foods Ltd..
August 30, 2023
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Minerva S.A. (BOVESPA:BEEF3) made a non binding offer to acquire Breeders & Packers Uruguay S.A from NH Foods Ltd. (TSE:2282) on November 21, 2022. As of January 31, 2023, Minerva S.A. (BOVESPA:BEEF3) entered into an agreement to acquire Breeders & Packers Uruguay S.A from NH Foods Ltd. (TSE:2282), NH Foods Chile Y Compañía Limitada, NH Foods Australia Pty. Ltd for an enterprise value of $40 million. The transaction is subject to a due diligence process expected to be wound up by the end of 2022. As of January 31, 2023, the transaction is subject to the fulfillment of conditions precedent usual to this type of transaction, including approval by the competent competition authorities and is expected to close on October 31, 2023. Rabobank Corporate Finance Advisory acted as financial advisor to Minerva S.A. (BOVESPA:BEEF3). Jiro Toyokawa, Masahiro Inaba and Michio Suzuki of Baker & McKenzie (Gaikokuho Joint Enterprise) acted as legal advisor to NH Foods Ltd. (TSE:2282).
Minerva S.A. (BOVESPA:BEEF3) completed the acquisition of Breeders & Packers Uruguay S.A from NH Foods Ltd. (TSE:2282) on August 31, 2023.
Minerva SA is a Brazil-based company mainly engaged in the production and sale of beef. The Company's activities are divided into two business segments: Meat and Livestock. The Meat division is involved in the production and sale of fresh beef. This segment includes beef, pork and poultry processing, as well as production and sale of cattle byproducts, such as hides or giblets. The Livestock division focuses on live cattle export. The Company operates slaughterhouses in Brazil, Paraguay Uruguay, Colombia and Argentina, meat processing plant in Brazil and two proteins processing plants in Argentina. The Firm owns numerous subsidiaries, such as Minerva Dawn Farms Industria e Comercio de Proteinas SA, CSAP Companhia Sul Americana de Pecuaria SA and Athena Foods SA, among others.