Chilean white meat producer set for expansion

09-08-2011 | |

Shareholders of Chile’s largest white meat and fresh foods producer, Agrosuper approved a capital increase and an initial public offering for a 15% stake to boost its expansion plans.

The processor had been working on an initial public offering as large as $900 million, but the company has since registered a shelf offering to issue up to $400 million in bonds.

“The capital increase is a way to realize our projects and will allow us to deepen the export plan we have been following,” Agrosuper said in a statement.

The firm plans to invest $350 million this year and wants to export its poultry, turkey, pork, salmon and processed products to over 60 countries.

Source: Reuters