SÃO PAULO, BRAZIL — Bunge is purchasing South Korean CJ Cheiljedang Corp.’s equity stake in Brazilian soy crusher CJ Selecta, Reuters reported.

CJ Selecta, based in Minas Gerais, Brazil, is one of the largest exporters of soy protein concentrate with an industrial unit in Araguari, a commercial office in São Paulo and several branches throughout Brazil. Soy protein concentrate is used in livestock feed for fish, pigs, poultry, equine and cattle.

The company was acquired by CJ Cheiljedang in 2017, changing its name from Sementes Selecta to CJ Selecta.

Bunge did not disclose the value of the transaction, but Korean media reports valued it at $357 million for a 66% stake.

The purchase strengthens Bunge’s position as a large soy processor in Brazil, which is the world’s largest producer and supplier of the oilseed.