BrasilAgro, through Agrifirma, buys control of Novo Horizonte, from Mato Grosso

The acquisition represents significant expansion in the Brazilian agricultural market, especially in the cultivation of soybeans and corn

10.06.2024 | 14:45 (UTC -3)
Cultivar Magazine

Agrifirma Agro Ltda., a Brazilian company dedicated to agricultural activities and the development of rural properties and with shares fully owned by BrasilAgro, is negotiating the acquisition of all shares in Companhia Agrícola Novo Horizonte SA, an agricultural company specialized in the cultivation of soybeans and corn in the state of Mato Grosso.

BrasilAgro, in turn, is a publicly traded company listed on both B3 and the New York Stock Exchange, with operations in several states in Brazil, as well as properties in Bolivia and Paraguay. The company operates mainly in the development and exploration of agricultural activities. Cresud, which holds more than 20% of BrasilAgro's share capital, is also a significant name in the sector, with investments in agriculture and urban real estate businesses in several Latin American countries. In addition to BrasilAgro, Cresud has investments in Agrofy Brasil.

Operation details

Novo Horizonte, whose shares are the target of the acquisition, has as partners Rafael Barbosa Maia, Martin Weege, Carbono Investimentos Ltda and Zmax Agro Cia. The proposed acquisition by Agrifirma aims to obtain 100% of Novo Horizonte's shares, resulting in control unitary over the company.

The acquisition of Novo Horizonte by Agrifirma represents a significant expansion for the company in the Brazilian agricultural market, particularly in the cultivation of soybeans and corn, which are crops of great economic importance for Brazil. This movement could reinforce the position of Agrifirma — and BrasilAgro — in the agricultural sector.

Furthermore, the operation can provide operational synergies, resulting in greater efficiency and potential market growth. The consolidation of agricultural operations under the management of Agrifirma could allow for a better allocation of resources and a more integrated market strategy.

The consolidation of the business awaits a decision from the Administrative Council for Economic Defense (Cade), as well as other customary measures.

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