The deal comes as part of Cargill’s business plan for Colombia, which consists of investing up to $500 million in the country, throughout the next five years.
On June 1st Cargill, a food production and processing company from the United States, announced the purchase of Colombia’s Pollos El Bucanero S.A. (Bucanero Chicken), one of the leading meat producers in the country.
With this deal, Cargill has entered the Colombian market for the first time and expanded its presence in Latin America. According to a press release issued by the American company, it opted to purchase Pollos Bucanero due to the Colombian company’s 30 years experience of in the market its 170 farms across the country.
Jorge Ivan Duque will be the General Manager of Cargill’s operation in Colombia. He graduated in 1996 as a vet at Las Caldas University and obtained a MBA at Los Andes University, in 2003. In 2008, he specialized in negotiation at the same institution. He joined Cargill in 2014 and has over 12 years of experience working in the poultry sector of Central America and Colombia. Pollos Bucanero will operate as part of Cargill Protein Latin America, which includes businesses in Costa Rica, Guatemala, Honduras and Nicaragua.
“Cargill is starting a new stage in Colombia, under the Bucanero brand, which is recognized and preferred by millions of customers across the country,” said Duque. “Just like Cargill, this is a family business. We are confident that this will be a smooth integration and will lead to numerous benefits for our employees, customers and communities.”
Xavier Vargas, CEO of Cargill Protein Latin America, said: “We are thrilled to expand our operations in Latin America by bringing our protein business to Colombia. As we enter this market, we bring the experience gained from working in protein across four continents for more than 50 years. This global presence, and our extensive work in other regions of Latin America, provides us a wealth of expertise in quality standards and an understanding of cultural taste differences. We look forward to delivering on the preferences of Colombian consumers and enriching their protein options.”
Ernst & Young used its office in Bogotá, to assist Cargill in the purchase of Pollos El Bucanero.