Amaggi said the acquisition of the Mato Grosso, Brazil-based grain producer has been approved by Brazil’s Administrative Council for Economic Defense (CADE), but remains subject to other conditions.
Financial terms of the transaction were not disclosed. Amaggi said the deal includes the Italmarati Norte farm, which consists of nearly 260,000 acres dedicated to the production of soy, corn and cotton.
Founded in 1977, Amaggi is present in all regions in Brazil, as well as in Argentina, China, the Netherlands, Norway, Paraguay and Switzerland. The company is active in logistics, energy, agricultural production, commodities and shipping, and directly employs more than 4,800 people.