Leading Chilean pork producer forms ‘perfect union’ with European agri investors
One of Latin America’s leading pork producers – Coexca S.A – has joined forces with the Danish Agribusiness Fund (DAF) via a US$12m equity raising facilitated by an Edinburgh-based agricultural investment firm, TerraProtein Equity Partners (formerly JB Equity).
The agreement, finalised today in Copenhagen, marks the largest of its kind in the Chilean pork sector and will significantly expand Coexca’s production and strengthen its offering to customers domestically and abroad.
Optimistic about the increasing global demand for high quality pork products, Coexca S.A. chief executive officer Guillermo García González said the agreement with DAF and TerraProtein Equity Partners represented an exciting new stage of development for Coexca S.A.
“Our union with DAF and TerraProtein Equity Partners will allow us to double Coexca’s current pork production capacity and establish a new and modern pig farm in the Maule Region of Chile,” Mr. García said.
Coexca is a leading pork producer in Chile, exporting its products to more than 33 countries, with a significant portion attributed to Asian markets. Coexca has turnover of over $85m USD and employs more than 500 people, with sales offices in Asia and Europe.
DAF Vice President for Latin America Helle Bjerre said: “Coexca is a good example of what cooperative and progressive farmers and processors can achieve by working with institutional investors who understand their industry”.
“We are delighted with our investment and look forward to working with Coexca and JB Equity,” Bjerre said.
Chile has the highest pork meat consumption in Latin America with close to 22 kg consumed per person per year. Due to Chile's focus on trade, significant industry re-investment, product safety and improvements in technology, Chile is now the sixth-largest pork exporter in the world.
Recognising these unique opportunities facing the Chilean pork industry, TerraProtein Equity Partners, who focus exclusively on agribusiness and agri-technology, facilitated the agreement and will join the company as a shareholder.
TerraProtein Equity Partners chief investment officer Hamish Webb said the transaction represented a “perfect union” between one of Chile’s leading pork producers and one of Europe’s most experienced agricultural investors.
TerraProtein Equity Partners seeks investment opportunities in companies with outstanding management and significant yet sustainable growth potential.
Hamish Webb, CIO TerraProtein Equity Partners
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Helle Bjerre, VP Latin America, DAF/IFU
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Guillermo García, CEO Coexca S.A.
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