Seaboard Corp. acquires shares in Peruvian company

Companies involved in Peruvian poultry, pork, and milling industries, as well as livestock

Merriam, Kansas – Seaboard Corp. has announced the acquisition of Continental Grain’s shares in ContiLatin del Peru SA (C.L.D.P.), a marketer of corn, wheat, and soybean products. C.L.D.P. also covers the needs of Peruvian poultry, milling and livestock industries, and provides industrial and logistical services for its customers.

Continental Grain Co. and Seaboard Corp. have done business together since 1966 when they partnered on the acquisition of a flour mill in Ecuador. Since then, the two companies have worked together on various joint ventures in the Caribbean and Latin America.

“Our decision to exit C.L.D.P. reflects C.G.C.’s strategy to diversify away from grain trading operations, but we know we are leaving this business in good hands with Seaboard. C.G.C. is actively working to expand its presence in Peru and Latin America and we have a dedicated team that is actively sourcing and evaluating new investments in the region,” added Andre Ettedgui, operating partner for Continental Grain Latin America.

C.L.D.P. was founded in 1994, and has since grown into an industrial operation, with plants in Lurin, and Trujillo, Peru. In the Lurin facility, the company focuses on the storage and shipping of grains, the production of animal feed, as well as the production of full-fat soybean meal. Out of the Trujillo facility, the company operates a soybean extrusion line, a corn drying and cleaning plant, as well as a grain warehouse.

In 2007, Seaboard Corp. joined Continental Grain as a joint partner in the C.L.D.P. business.

“This acquisition is consistent with Seaboard’s longstanding strategy of global integration with our wholly-owned grain trading operations. We operate grain and feed milling operations and related businesses in 42 locations in 23 countries, and those operations are primarily supplied by our commodity trading offices. C.L.D.P., with its leading position in Peru, is a key component of our presence in the region,” explained David Dannov, president of Seaboard Overseas Trading Group.