Adecoagro S.A. presented a formal proposal to acquire commercial brands and two factories from Sancor Cooperativas Unidas Limitada for $45 million.
September 12, 2018
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Adecoagro S.A. (NYSE:AGRO) presented a formal proposal to acquire commercial brands and two factories from Sancor Cooperativas Unidas Limitada for $45 million on September 13, 2018. The deal involves Las Tres Ninas and Angelita brands along with two factories in Morteros and Chivilcoy. Around 300 workers will be transferred to Adecoagro as part of the deal. Sancor must support the transaction within a maximum period of 60 days. As of December 31, 2018, a Court in Santa Fe province in Argentina has endorsed the agreement. The deal is expected to close on February 1, 2019. Pablo Viñals Blake, Fernando Daniel Hernández, Diego Krischcautzky, María Lucila Escriña and María Soledad Noodt Molins of Marval, O'Farrell & Mairal acted as legal advisors to Adecoagro.
Adecoagro S.A. is a holding company. The Company is involved in a range of businesses, including farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production and land transformation. The Company is organized into three main lines of business: farming; land transformation, and sugar, ethanol and energy. Its agricultural activities consist of harvesting certain agricultural products, including crops, rough rice and sugarcane, for sale to third parties and for internal use as inputs in its various manufacturing processes, and producing raw milk. Its manufacturing activities consist of selling manufactured products, including processed rice, sugar, ethanol and energy, among others, and providing services, such as grain warehousing and conditioning and handling and drying services, among others. The Company's land transformation activities consist of the acquisition of farmlands or businesses with underdeveloped or underutilized agricultural land.
ADECOAGRO S.A. 
