Repurchase cooperative share of Force on Itambé

The Central Cooperative of Farmers of Minas Gerais (CCPR) announced on Wednesday, 20, who bought back the 50% of the marks which belonged to the force, Itambé group company J&F. Initially, the label included in assets that would be transferred to the Mexican Lala, as contract signed on July 31, by $5.7 billion. However, the cooperative had a preference to repurchase had sold that share to Force in 2013, by $410 million.
According to sources close to the negotiation, the repurchase value exceeded the agreed four years ago. According to data from Euromonitor consulting, the market share of the Itambé cheese and milk markets – totaling 6.9% and 5.6% in 2016, respectively – little varied since the acquisition by Force. However, the company has gathered strength in the yogurt market, from 3.3% to 4.3% of the segment.
Although the brand is relatively small in relation to the Force, the decision of the cooperative to repurchase it changes the list of assets that Lala had listed by announcing the purchase of Force, just less than two months.
The presentation made by the Mexican group included in the purchase of 50% participation in Itambé. Wanted by the report, the Group Lala did not respond until the closure of this edition if the operation may or may not affect the business.
The Force was part of the package of assets that the Group managed to sell J&F in recent months, in the wake of the agreement that the brothers Joesley and Wesley Batista had closed with the Federal Public Ministry (MPF).
The package also included the sale of pulp company Eldorado to Paper Excellence, by R $15 billion, which also has not yet been closed. Yesterday, the company announced the completion of the sale of Sneakers to the Itaúsa and Cambuhy (investment vehicles of the Ita's proprietary families) and the Warrant for R $3.5 billion repurchase agreement of Itambé by Cemil involved banks BTG, Bradesco and Santander In addition to the law firm Souza, Cescon, Barrieu & Flesch Advogados.
The Central Cooperative of Farmers of Minas Gerais (CCPR) announced yesterday that it repurchased the 50% of the marks which belonged to the force, Itambé group company J&F. Initially, the label included in assets that would be transferred to the Mexican Lala, as contract signed in on July 31, by $5.7 billion. However, the cooperative had a preference to repurchase had sold that share to Force in 2013, by $410 million.
According to sources close to the negotiation, the repurchase value exceeded the agreed four years ago. According to data from Euromonitor consulting, the market share of the Itambé cheese and milk markets – totaling 6.9% and 5.6% in 2016, respectively – little varied since the acquisition by Force. However, the company has gathered strength in the yogurt market, from 3.3% to 4.3% of the segment.
Although the brand is relatively small in relation to the Force, the decision of the cooperative to repurchase it changes the list of assets that Lala had listed by announcing the purchase of Force, just less than two months.
The presentation made by the Mexican group included in the purchase of 50% participation in Itambé. Wanted by the report, the Group Lala did not respond until the closure of this edition if the operation may or may not affect the business.
The Force was part of the package of assets that the Group managed to sell J&F in recent months, in the wake of the agreement that the brothers Joesley and Wesley Batista had closed with the Federal Public Ministry (MPF).
The package also included the sale of pulp company Eldorado to Paper Excellence, by R $15 billion, which also has not yet been closed. Yesterday, the company announced the completion of the sale of Sneakers to the Itaúsa and Cambuhy (investment vehicles of the Ita's proprietary families) and the Warrant for R $3.5 billion (read more).
The repurchase agreement of Itambé by Cemil involved banks BTG, Bradesco and Santander, as well as the law firm Souza, Cescon, Barrieu & Flesch Advogados.