Bunge announces purchase of Pacific Mill

The Brazilian Division of agribusiness giant Bunge announced on Thursday that it has closed deal to buy Pacific mill, located in Santos (SP), one of the leading companies of wheat processing in the country.
Operation is subject to the approval of regulatory authorities, said Bunge in press release, without disclosing the transaction values.
The businessman Lawrence Pih, Pacific Mill owner, told Reuters in 2009 that was sought by Bunge in time to sell the company, but the business prospered due to a 10 percent difference in the values involved.
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The purchase of the Pacific, which has annual capacity of grinding of hundreds of thousands tons of wheat, gives the Bunge in the largest market dominance position in Brazil, the State of São Paulo in Brazil.
Bunge already has seven other wheat mills in Suape (PE), Brasília (DF), Santa Luzia, Minas Gerais, Rio de Janeiro (RJ), Tatuí (SP), Santos (SP) and Ponta Grossa (PR).
"The Brazilian wheat processing market is highly competitive and, with this acquisition, we strengthened our position in São Paulo. The State demand about 28 percent of the wheat flour marketed in the country, "said in a statement the Vice President of Food Ingredients of Bunge Brazil & Philip Affonso Ferreira.