sexta-feira, 22 de fevereiro, 2013

Force, of holding J&F, 50% of the Itambé mining purchase for $ 410 million

The Current dairy, J&F Group (owner of JBS refrigerator), yesterday announced the purchase of 50% of the Itambé mining. The deal will be done by means of a capital increase, with the contribution of $ 410 million. The resources will be used to finance the growth of Itambé and consider its debt, estimated at about $ 500 million. The two companies will form a Creamery with annual sales exceeding $ 3 billion.
The Lodge is the fourth largest dairy manufacturer of Brazil, behind Nestle, LBR and BRF. The company processes 3 million tons of milk per year, in five-four factories in Minas Gerais and Goiás. The brand belongs to the Central Cooperative of Farmers of Minas Gerais (CCPR), who are in the market of dairy products since 1944 and still stays with 50% of the share capital of the company.
The Itambé worked, until November last year, with the structure of a cooperative. In December, became a Corporation (S/A) and now makes a capital increase to receive the Force as a partner. The restructuring included the Division of the assets of the group, which also manufactures feed and owns agricultural warehouses. The Force became the only shareholder of the Itambé-dairy business unit had revenue of $ 1.8 billion in 2012. The rations and warehouses continue to belong only to the CCPR.
The Force could give the Itambé access to a greater volume of milk, which can lead to the growth of the company's production. "The partnership between the two groups will empower Itambé 's operations, which will continue its growth trajectory with an appropriate capital structure, operational processes and independent administrative and management fully professionalized," the force said in a statement.
According to the company, its operation is complementary to that of the Itambé. The brand is strong in mining areas such as long life milk, powdered milk, condensed milk and requeijões. Meanwhile, the strong Force are the yogurt and cheeses. "The Lodge will contribute to a better complementarity to Existing products," said the company, which took in 2011 a turnover of r $ 1.3 billion.
The purchase of a slice of Itambé brings a tradition to the portfolio of the Force, says food and beverage specialist Adalbert Viviani, Concept Consulting. According to him, the Force has made efforts to modernize how the release of Greek yogurt, while the Itambé is a brand that earns the consumer to have tradition in the market. "The deal adds to a brand that communicates with a different audience," said Viviani.
Companies don't divulge how much is the synergy of Union operations. For Viviani, the company can achieve operational gains with the integration of the sales and distribution of products. "The freight cost is too heavy for dairy products. The product is perishable and frequent supply point of sale is a significant differentiator in this market, "he says. /COLLABORATED FERNANDO SCHELLER
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