According to The Latin American Tribune, Japan’s Itochu Corporation will acquire 50% of Brazilian grain company, Naturalle, with an eye toward quadrupling its annual soy production, the company announced on Tuesday (September 9).
Naturalle specializes in the cultivation of seeds for export to China and other Asian countries.
By the end of this year, Itochu will have acquired half of Naturalle’s shares from Brazilian venture capitalist firm Axial, for approximately $18.8 million.
With 60 employees on its staff, Naturelle has set an annual million-ton target for soy output during the first two years of its relationship with the Japanese company.
COMMENT: This will be Itochu’s first foray into the grain business in Brazil.
The Japanese corporation, along with its new Asian partner, the Choroen Pokphand Group, Thailand’s largest conglomerate, is considering taking part in joint projects with Brazilian firms specializing in the cultivation and production of soybean oil, according to the Japanese daily NIKKEI.