Bunge Ltd. to buy Cereol S.A.
August 01, 2002
by Emily Wilson
WHITE PLAINS, NEW YORK, U.S. — Bunge Limited has announced that it will acquire a controlling stake in Cereol S.A., a leading French oilseed processor, from Edison S.p.A. The deal will make Bunge the world’s leading oilseed processor, with integrated operations across key geographic regions.
The transaction is expected to close late this year and is subject to U.S. and E.U. regulatory approvals. In 2001, Bunge, the largest soybean processor in the Americas, reported net sales of US$11.5 billion and operating income of US$527 million.
Cereol, which is based in France and has operations in North America and Europe, is a leader in the processing of oilseeds, principally soybeans, rapeseed, canola and sunflower seed, and in the manufacturing, distribution and sale of food oils, meals for animal nutrition and food ingredients, such as proteins and lecithins.
In North America, Cereol operates two primary subsidiaries, Central Soya, a major processor of soybeans in the Midwest and Eastern United States, and CanAmera, the largest processor of canola, with operations strategically located throughout Canada. Cereol is also a leader in Europe — the largest market for protein meals in the world — with a strong presence in both oilseed processing and edible oil products.