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Brazilian agribusiness firm SLC Agrícola said Friday that it signed an agreement to acquire local rival Sierentz Agrícola for $135 million excluding debt. SLC will pay 60% of the deal’s value at the closing, followed by 20% in April 2026 and 20% a year later, according to a securities filing. It did not say how it intends to fund the transaction. The deal includes nearly 100,000 hectares, mostly in the state of Maranhão in north east Brazil, where Sierentz grows soybean, corn, and raises cattle. SLC said it expects to operate soybean and corn initially and will partially transition to cotton starting in the third year of operations. “The transaction aligns with the company’s long-standing strategy of adopting an asset-light approach,” said Itaú BBA equity analysts in a report. “Following the deal, SLC will operate 66.5% of its areas through leasing contracts, in line with the ratio the company has emphasized in recent years.” In 2007, SLC was the first agribusiness company to launch carry out an IPO on the São Paulo stock exchange. It acquired another local rival, Terra Santa Agro, in March 2021 in an all-share deal worth BRL753 million.
