Cargill To Take Full Control Of Brazil's SJC Bioenergia

Cargill has signed a purchase and sale agreement for a 50% stake in SJC Bioenergia, giving it full control of the Brazilian sugar and renewable energy firm, according to a statement. Ana Mano reported for Reuters.

The move aligns with Cargill's strategy in the renewable energy market. I Photo: Cargill

The U.S. grain trader declined to disclose the financial details of the transaction. Cargill stated that the move aligns with its strategy in the renewable energy market. The company, which has been operating in Brazil for 60 years, has invested more than 6.8 billion reais ($1.17 billion) in its local operations in recent years.

The transaction is subject to regulatory approval.

Founded in 2006, SJC Bioenergia has had Cargill as a business partner since 2011. The company employs 4,500 people and operates two plants in the central-western state of Goiás, according to the statement.

Cargill noted that SJC Bioenergia processes sugarcane and corn, producing raw sugar, hydrated and anhydrous ethanol, corn oil, and distillers' dried grains (DDGs) with high protein content. The company also generates electricity.