Arantes grows, makes acquisitions and aims at US$ 981.6 million income
Valor Econômico - 06/13/2008
Arantes Alimentos, which has just raised US$ 150 million in eurobonuses in the foreign market, has been investing, without broadcasting it, in diversification and hopes to increase its earnings in almost R$ 1 billion (US$ 613.5 million) this year. Discreet, in October/2007 the company that used to sell only beef acquired Frigo Eder, a traditional cold meats industry from São Paulo. In the beginning of this year, it purchased Hans, another equally traditional industry in the cold meats segment, and the unit of the company in Jundiaí (SP). The investment made in these acquisitions amounted to R$ 300 million (US$ 184 million), according to Aderbal Arantes Júnior, President of Arantes. But that's not all. The company, which was known as Frigoalta and will soon begin using the name Eder Alimentos, is currently performing due diligence in two other companies, one related to poultry and another one to pork, whose names are kept under secret due to contractual reasons. Besides the acquisitions under negotiation, Arantes may also invest R$ 101 million (US$ 62 million) this year in its units - and the company is currently building a factory for cooked meet in Cachoeira Alta and another one for beef jerky in Votuporanga. At the same time it has opted for diversification, Arantes, which three years ago went through a difficult period, has also decided to strengthen its beef operations. This year, with Eder and Hans and the start-up of other units, the projected gross income is R$ 1.6 billion (US$ 981.6 million). This estimate does not include the income of the two companies being acquired. Together with the diversification, Arantes has also started to professionalize the company and speaks of going public in 2010. But before that the company wants to continue growing through acquisitions or even mergers, but keeping the share control at all times, states the president of the company, which currently has four thousand employees in its units in the country.