Bunge to acquire Aceitera Martínez in Argentina

Netherlands-based Bunge Southern Cone has signed an agreement to acquire Argentine edible oil producer Aceitera Martínez.

Financial details of the transaction have not been revealed by either company.

Aceitera Martínez produces and packages edible oils, including sunflower and soybean oil products.

Bunge Southern Cone CEO Enrique Humanes said: "This acquisition allows us to strengthen our value-added position in the agrifood chain and ratifies Bunge’s deep commitment to national production.

“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 and ingredients business.”

Under the terms of the deal, Bunge Southern Cone will acquire Aceitera Martínez’s assets, which include a production plant located near Bunge’s refining centre in San Jerónimo Sud, Argentina.

The newly acquired facility is equipped with modern technology and includes three packaging lines with a capacity to produce nearly 20,000t a month. 

Last December, Bunge signed an agreement to acquire Turkey’s olive and seed oil producer and Ana Gida, which also makes Komili olive oil.

The acquisition is set to bolster Bunge’s product portfolio and increase its access to customers in the country.

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Image: Bunge agrees to take over Argentinean edible oil producer Aceitera Martínez. Photo: courtesy of Bunge.