Acquisition by Minerva gives Brazilian firms more co - leatherbiz: Lea Leatherbiz

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Acquisition by Minerva gives Brazilian firms more control in Uruguay

24/01/2011
Brazilian packer and tanning group Minerva moved in mid-January to acquire a Uruguayan firm called Pul. If the deal, reported to be worth $65 million, goes through, Brazilian firms will have control of more than a third of slaughter in the neighbouring country.

Uruguay’s cattle slaughter in 2010 has been reported at 2.2 million head. With Marfrig and JBS already present in the country, Brazilian packers claimed a share of 29.4% of this total. Pul, based in the province of Cerro Lago, had a share of 6.6%. The two figures would give Brazilian companies a combined share of 36% of Uruguayan slaughter.


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