O Telhar Agro
CADE: AMAGGI’s ‘O Telhar’ Agro Group acquisition receives approval
The Economic Defense Administrative Council (Cade) approved on Monday (22) AMAGGI’s acquisition of the ‘O Telhar’ Agro group operations in Brazil. The transaction, which had been announced by AMAGGI on the March 5th, was submitted to the agency and approved without any restrictions. The completion of the acquisition still depends on the fulfillment of certain conditions precedent by the parties involved.
With this acquisition, AMAGGI should incorporate circa 62 thousand hectares in production areas on 14 farms, increasing its production capacity of grains and fibers by approximately 34%. The ‘O Telhar’ Agro Group operates, in Brazil, with operations on farms in the State of Mato Grosso, producing soybeans, corn and cotton.
Among the assets acquired from the ‘O Telhar’ Group, which employs circa 900 employees, are over 34 thousand hectares of productive area from farms owned by the group and over 28 thousand hectares from leased areas. Two of the units also have almost 900 hectares dedicated to livestock (feedlot).
Some of these farms have storage structures and cotton processing plants. In addition, the group owned farms have over 10,000 hectares of legal reserve, with native vegetation and preserved natural resources.