Chilean pork producer raised US$12 million for growth
The agreement, finalized in Copenhagen, marks one of the largest of its kind in the Chilean pork sector.
Chilean pork producer Coexca S.A. has joined forces with the Danish Agribusiness Fund (DAF) via a US$12 million equity raising facilitated by an Edinburghbased agricultural investment firm, JB Equity Limited. The agreement, finalized in Copenhagen, marks one of the largest of its kind in the Chilean pork sector and may significantly expand Coexca’s production and strengthen its offering to customers domestically and abroad.
Optimistic about the increasing global demand for high quality pork products, Coexca S.A. chief executive officer Guillermo García González said the agreement with DAF and JB Equity represented an exciting new stage of development for Coexca S.A.
“Our union with DAF and JB Equity will allow us to double Coexca’s current pork production capacity and establish a new and modern pig farm in the Maule Region of Chile,” García said in a press release.
Coexca in the international pork market
Coexca is a leading pork producer in Chile, according to the company, exporting its products to more than three countries, with a significant portion attributed to Asian markets. Coexca has turnover of over US$85 million and employs more than 500 people, with sales offices in Asia and Europe.
“Coexca is a good example of what cooperative and progressive farmers and processors can achieve by working with institutional investors who understand their industry,” DAF vice president for Latin America Helle Bjerre said in a press release.
Pork production in Chile
Chile has the highest pork meat consumption in Latin America with close to 22 kg consumed per person per year, according to a Coexca press release. Chile is now the sixth largest pork exporter in the world.
Recognizing these opportunities in the Chilean pork industry, JB Equity, which invests exclusively in agribusiness and agritechnology, facilitated the agreement. JB Equity will join the company as a shareholder.