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  • Condensed by Lynda Kiernan-Stone, Unconventional Ag Media

Bunge Acquires Brazilian Soy Crusher CJ Selecta for $356.3 million

Bunge Alimentos, a Brazilian unit of Bunge, has acquired a majority of Brazilian soybean crusher CJ Selecta S.A. from South Korean food giant CJ CheilJedang Corp. for an estimated $356.3 million.

CJ CheilJedang - a producer and supplier of vegetable proteins to the animal feed, chemical, and pharmaceutical industries - initially acquired CJ Selecta (originally named Selecta) in 2017, and grew it to post revenue of 1.13 trillion won ($840 million) last year.

The Korean company stated that it plans to boost its bio businesses as part of its long-term growth strategy after its biocompatible polyester materials received U.S. FDA approval for use as food packaging in May 2023, and its subsidiary CJ Bio made an undisclosed investment in Australian biotech company Provectus Algae in March of this year.


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