SÃO PAULO, BRAZIL — Bunge announced on Aug. 27 that it has signed an agreement to purchase Moinho Pacifico, located in Santos, Brazil. The transaction is subject to approval by regulatory authorities.
Moinho Pacifico is one of the largest wheat flour millers in the country.
With this acquisition, Bunge keeps the focus on its growth strategy in the supply of wheat flour and premixes for the industrial, domestic and bakery.
“Wheat is part of the DNA of Bunge, we were in this market in Brazil 110 years ago. This sector is one of our priorities and we have the challenge of increasing the participation of business Food & Ingredients in our overall results and this acquisition confirms this strategy,
said Raul Padilla, president and chief executive officer of Bunge Brazil.
"The Brazilian wheat processing market is highly competitive and, with this acquisition, we reinforce our position in Sao Paulo,” said Filipe Affonso Ferreira, vice-president of Food & Ingredients Bunge Brazil. “The state demands about 28% of marketed wheat flour in the country, which makes it one of the largest and most diversified markets. The São Paulo bakery is a national reference."
Currently, Bunge has seven flour mills strategically located from north to south: Suape, Brasilia, Santa Luzia, Rio de Janeiro, Tatuí, Santos and Ponta Grossa.