UPL announces partnership with Bunge

23 Jan 2022 , 01:34 AM

UPL announced that the company and other shareholders in Sinagro Produtos Agropecuarios SA Brazil Sinagro have announced an agreement in which Bunge Bunge will acquire a 33Percentage stake in Sinagro to strengthen its grain orientation strategy in Brazil Sinagro is a major reseller of grains and agricultural products with a significant presence in Brazils Cerrado savanna region Bunge is one of the world leaders in sourcing processing and supplying oilseed and grain products and ingredients The deal announced today is subject to approval by Brazils antitrust body Conselho Administrativo de Defesa Econmica CADE For more than 20 years Sinagros strategic focus has been supporting producers and with a network of more than 30 stores and warehouses and a footprint across seven Brazilian states Mato Grosso Mato Grosso do Sul Gois Bahia Tocantins Par and Minas Gerais Sinagro is strategically positioned to support suppliers and final customers alike Sinagro was one of the first signatory companies to join Bunges Sustainable Partnership a groundbreaking initiative launched in 2021 whereby Bunge helps grain resellers set up socio environmental assessment systems for suppliers including satellite monitoring at the farm level Program participants can adopt independent geospatial imaging services or use Bunges structure at no cost UPLs associate company Sinagro is a reseller of grains and agricultural products based in Brazil Bunge is an agribusiness company specialising in soybean exports food processing grain trading and fertilizers with global operations