16 November 2020 - Cargill has agreed to sell its Venezuelan business to an international group of investors represented by Phoenix Global Investment fund and local investor, Puig Group. Financial terms of the transaction were not disclosed.
The sale involves all of Cargill’s assets in Venezuela, which includes manufacturing sites for the production of wheat flour, pasta, edible oils, vegetable fats, salt and animal feed.
The sale includes Cargill Animal Nutrition’s feed locations in Coropo, Barquisimeto, Cabimas and Maracaibo, the company told Feedinfo.
The deal is expected to take several months to complete.
“During this period, Cargill will continue to operate the company until the transition is complete and operations are transferred to the buyer,” Cargill said.