Businessman Ricardo Faria, founder of Granja Faria and known as the “king of eggs”, has just taken a billionaire step in his internationalization strategy. His Global Eggs Holding announced on Thursday (27) an agreement aimed at the acquisition of the American Hillandale Farms for an estimated value between $ 6.3 billion and $ 6.8 billion, according to the agency report Reuters and the British journal Financial Times.
The negotiation marks the entry of the Brazilian group in the competitive egg market of the United States, amid a scenario of strong demand and scarcity of eggs in the country, caused by outbreaks of avian flu that forced the slaughter of millions of laying chickens and led to peaks of price-and to a movement of the US government to expand imports.
Despite the favorable context, Faria told the Financial Times That the acquisition was not motivated by recent market distortions, but is part of a long -term strategy. “Americans love eggs. It is a market with high consumption. Eggs are the good of consumption that grows fastest the shelves or supermarket trolleys,” he said.
Hillandale, founded in 1958 and based in Pennsylvania, is one of the largest egg suppliers in the US. The company will continue to operate under its current management, according to Vice President Gregory Cessna, who highlighted the commitment to support the business.
According to the Brazilian businessman, the purchase will double the production capacity of companies controlled by Global Eggs, based in Luxembourg. The expectation is to reach an annual revenue of US $ 2 billion (R $ 11.5 billion) and an ebitda of US $ 500 million (R $ 2.8 billion) by 2024.
Faria, who is 49 years old and on the list of billionaires from Forbes Brazil, with estimated equity of $ 17.5 billion, ensured that Global Eggs financial leverage will continue controlled even with the operation. Holding liquid loans will remain below once the profit before interest, taxes, depreciation and amortization (EBITDA).
