São Paulo, Brazil, May 30, 2014 -
IFC, a member of the World Bank Group, invested BRL 45.8 million in Asa Alimentos to support expansion of its poultry and pork meat production in the regions of North and Midwest of Brazil. IFC’s investment includes a BRL 30 million loan and a $ 6.8 million quasi-equity line (equivalent to BRL 15.8 million).
IFC’s investment will support the increase of Asa’s production capacity by around 110% and resume operation of the company’s slaughtering facility in Tocantins, helping to create additional 2500 jobs and involving 240 outgrowers. In addition to the financing, IFC is advising Asa in the improvement of its corporate governance standards.
“We are very pleased to welcome IFC’s investment and advisory in our expansion plan. Sustainability is a key element of Asa Alimento’s strategy, and IFC plays an important role to support it”, says Aroldo Amorim Filho, CEO of Asa Alimentos”.
“Agribusiness is a strategic priority for IFC because of its potential for development and poverty reduction”, says Hector Gomez Ang, Country Manager for IFC Brazil. “Asa’s project will help support sustainable food supply and increased food availability in Brazil.”
Brazil’s animal protein industry produces around 25.2 million tons yearly, 76% of which is slated to the internal market. The country is also the world’s third largest poultry producer and the exports leader, delivering to 142 countries.
IFC’s agribusiness strategy focuses on strengthening food security and rural incomes by improving productivity in agriculture, promoting inclusive growth, and helping companies adopt good environmental and social practices. In 2013, IFC’s investment in the agricultural sector supported employment of 421,500 people, including 124,000 women, and reached 3.1 million farmers worldwide.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
.
About Asa Alimentos
Asa Group, founded by Aroldo Silva Amorim, has more than 40 years of experience in the poultry business and 20 years in the livestock business. The Company has a long history in developing the poultry and livestock businesses in the Midwest and North of Brazil. Asa Alimentos is today one of the largest Brazilian Companies in the sale and production of hatching eggs, having also in its portfolio day-old-chicks and frozen poultry and pork products which are sold under the Bonasa brand, which has over 160 items in its product portfolio derived from poultry and pork. In 2012 it launched a new gourmet line with various cuts of marinated pork products, created from special recipes and with unique seasonings.
