Adecoagro acquires Sancor assets in Argentina
Feb, 13, 2019 Posted by datamarnewsWeek 201908
Luxembourg based Adecoagro has finalized a deal to take on assets of the Argentina-based dairy cooperative SanCor. The deal includes the ownership of two production facilities as well as the brand names Las Tres Ninas and Angelita. SanCor has battled bankruptcy for years.
The production facilities include the Chivilcoy site in Buenos Aires province which produces milk for the local market and another plant in Morteros, Cordoba province, which manufactures dry milk and cheese for export.
Local media estimate the deal is worth US$40m and suggest that Adecoagro plans to invest up to US$15m in the plants. Adecoagro already has a dairy unit in the city of Carmen, Argentina.
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