Buenos Aires, December 11th. (Press release). The business group Pacuca – CPS, owner of the trademark Cabaña Argentina, and Ledesma, a company with vast interests in running cattle farms in Argentina, signed a Memorandum of Understanding (MOU) with Japan’s Mitsui to jointly study the possibility of creating strategic synergies and a joint investment in pork and beef industries, in order to incorporate new technology and expand production capacity as well as increase the export of products which Mitsui can provide.
Pacuca and CPS, leading companies in the production of pork meat, cold cuts and sausages in the Argentine market, belong to the Blaquier family, also a majority shareholder of Ledesma, the largest producer of sugar and paper in Argentina as well as an important producer of cattle. In 2017 Ledesma and Mitsui previously signed an agreement for comprehensive collaboration not only in Argentina but also in the world.
Mitsui & Co. is one of the most diversified services, investment and trade companies worldwide, and currently with 136 offices in 66 countries, and total asset about USD 100 billion and profit after tax about USD 3,700 million.
The pork industry in Argentina has been growing steadily during the last years, both for domestic consumption and for export, caused by the new macroeconomic conditions and the opening of new markets.
The Memorandum was signed by Carlos Herminio Blaquier, President of the Board of Ledesma, Katsurao Yoshimori, CEO of Mitsui & Co. (USA) Inc and Daniel Fenoglio, CEO and President of the Group Pacuca-CPS. Present also were Ignacio Blaquier, Alejandro Blaquier and Juan Pereyra Iraola, all members of the Board of Ledesma; Javier Goñi, CEO of Ledesma; Tatsuo Yasunaga, Global CEO of Mitsui & Co.; Noboru Nagasawa. Divisional Operating Officer for Foods & Retail Division of Mitsui & Co. (USA) Inc., and Hisashi Yamaguchi, CEO of Mitsui & Co. (Argentina) SA.
Carlos Herminio Blaquier said: “This agreement will allow us to invest and expand the production capacity of CPS to reach more markets around the world, and increase the beef production capacity for Ledesma”.
Katsurao Yoshimori said: “We are very glad to work with Ledesma, Pacuca and CPS, which are known as excellent companies here in Argentina. We hope to close the deal as soon as possible and also expect more collaborations will follow shortly”.