Mantiqueira Brasil Eyes US Expansion with Merger or Acquisition
Amid its recent acquisition by meat giant JBS SA, Mantiqueira Brasil, South America's leading egg producer, is exploring strategic moves to enter the lucrative US market.
CEO Márcio Utsch stated, "No options are off the table. We may pursue local production or forge partnerships with established players."
Mantiqueira's expansion plans come as bird flu concerns have created egg shortages and price hikes in the US. The company aims to capitalize on this market opportunity and expand its reach beyond its current presence in the Middle East, Africa, Asia, and South America.
Murilo Pinto, son of Mantiqueira's founder, has been appointed CEO of Mantiqueira USA to drive this growth strategy. The company intends to introduce cage-free eggs in the US, a segment that contributes to 15% of its Brazilian sales.
JBS CEO Gilberto Tomazoni emphasized the potential synergy between Mantiqueira's egg operations and JBS's poultry business in the US, Brazil, Mexico, and Europe. He noted the shared resources and knowledge between the industries.
"JBS's expertise and global presence can provide valuable insights and support," Utsch said.
Mantiqueira's expansion plans align with the rising global demand for eggs as a healthy protein source. The US egg market presents a lucrative opportunity due to the current supply constraints and consumer preferences.