Minerva (BEEF3) Completes Acquisition of Uruguayan BPU Meat for $40 Million USD

BPU Meat is one of the most modern beef slaughterhouses in South America, located near the city of Durazno in Uruguay.

Minerva (BEEF3) finalized the acquisition of Breeders and Packers Uruguay S.A. (BPU Meat), a subsidiary of NH Foods, on Thursday (31st). The total investment will be $40 million USD.

BPU Meat is one of the most modern beef slaughterhouses in South America, located near the city of Durazno in Uruguay, with a slaughtering capacity of 1,200 heads per day.

BPU employs high technology in its industrial process, producing and exporting Uruguayan beef with the highest quality and sanitary safety standards. It has access to some of the most stringent and important markets globally, such as Japan, South Korea, China, and the United States, according to Minerva.

Over the last two years, BPU Meat has reported an average annual revenue of $235 million USD, with an EBITDA margin (EBITDA over revenue) of approximately 6%.

Currently, the slaughterhouse unit allocates around 85% of its sales to the international market, particularly targeting destinations with high-income capacity and demand for premium products. With this acquisition, Minerva Foods will now have a total slaughtering capacity of 3,700 heads per day, spread across four slaughterhouse units: Pul, Carrasco, Canelones, and now, BPU. As a result, starting from September, BPU Meat will be consolidated into Minerva Foods’ financial statements.

Translated from: InfoMoney.