Cargill to Buy Seara Alimentos

NEW YORK - Sep 1/04 - SNS -- Cargill has reached an agreement o buy a majority position in Seara Alimentos SA, a major Brazilian branded poultry and pork processor. The transaction is subject to approval by regulatory authorities.

Cargill proposes to acquire a majority interest in Seara from Bevrexas BV, a Dutch subsidiary of Mutual Investment Limited. Cargill intends to tender for the remainder of Seara's shares by way of a public offer in Brazil.

Founded in 1956, Seara trades poultry and pork meat and thermo-processed products for over 70 countries. It is the third largest Brazilian exporter for these products; and one of the largest Brazilian companies in the poultry and processed meat segment.

In the domestic market, the company concentrates its operations in processed meats through its ham, sausage, frankfurter and bolognas. Headquartered in Itajaí (Santa Catarina State), the company has nine plants in Brazil and offices in Argentina, Holland and Singapore with around 14,500 employees.