Bunge Southern Cone, a subsidiary of global agribusiness and food company Bunge, has agreed to acquire all of Argentinian edible oil producer Aceitera Martínez SA’s assets.

The acquisition, agreed on 11 April, covered all of the company’s assets and included a modern production plant located in San Jerónimo Sud, near Bunge’s refining centre, Bunge said.

The facilities, equipped with “state-of-the-art” technology and three packaging lines, had an installed capacity of approximately 18,000 tonnes/month.

“This acquisition allows us to strengthen our value-added position in the agrifood chain and ratifies Bunge’s deep commitment to national production,” said Enrique Humanes, CEO of Bunge Southern Cone.

“In the coming years, our commitment will be to meet the demand for higher value-added products, expand our portfolio and generate a more appropriate asset allocation,” he added.

Aceitera Martínez is a family-run business, which has more than 60 years of experience in the production and packaging of edible oils, including sunflower and soyabean oil.

Bunge has completed a line of acquisitions in the past 12 months, including the buyout of German oils and fats supplier Westfälische Lebensmittelwerke Lindemann GmbH & Co KG in March.

In February, Bunge acquired two oilseed crushing plants from Cargill and also formed a join venture with Saudi shipping firm Bahri Dry Bulk Company to establish an ocean freight supplier for dry bulk import and export flows in and out of the Middle East.