COFCO International, one of China’s largest global agri-food companies, announced this week an agreement to acquire the Rio Vermelho and Nova Unialco sugar mills from Brazilian company Bunge. The acquisition will allow the company to expand its activities in Brazil’s sugar industry. The mills are located in the municipalities of Guararapes and Junqueirópolis, in the Araçatuba region of São Paulo state.

The Managing Director of Sugar Mills at COFCO International, Daniel Pagnani, said that the acquisition is aligned with the company’s long-term strategy to expand and strengthen its sugar business. According to the official, the deal will reinforce COFCO International’s industrial presence in Brazil and increase its capacity to operate in an integrated manner across important agricultural regions. He added that integrating these assets into the company’s existing platform could create opportunities to increase operational efficiency, diversification and business resilience.

COFCO International has operated in Brazil for more than a decade and continues to invest in the country, playing an important role in connecting Brazilian agricultural production with global markets. According to the company, the acquisition should support the sector’s long-term development, benefit farmers and local communities, and contribute to regional economic growth.

(Source: COFCO International, 1 September)