Adecoagro Acquires Caarapó Mill for $148M, Boosting Crushing Capacity
AGRO sits 43% above its 52-week low of $6.89.
Summary
Adecoagro is buying the Caarapó sugar and ethanol mill for approximately $148 million, adding 3.5 million tons of annual crushing capacity. The deal expands its S&E cluster in Mato Grosso do Sul, building on strong Q1 results that saw record crushing volumes drive Adjusted EBITDA to $85.8 million. The acquisition is material for a company with a $1.45 billion market cap, deepening its footprint in a key region. The mill is being sold by Brazil's Raizen.
At the time of this announcement, AGRO was trading at $9.84 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $6.89 to $15.89. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.