RIO DE JANEIRO, BRAZIL – Copersucar, The world’s largest sugar and ethanol company, announced on Friday, June 18, that it has finalized the purchase of 50% of Alvean Sugar SL shares owned by Cargill, taking full control of the leading trading company in the global sugar market.
Alvean is specialized in the origination, commercialization, and trading of raw and white sugar globally. With over 14 million tons traded last crop year, Alvean has a global market share of around 20%, Copersucar said.
According to the statement, Alvean will continue as an independent company, with autonomous management and its own governance, maintaining its activities and brand.
The deal was announced in March and approved by the Administrative Council for Economic Defense (CADE), Brazil’s competition regulatory agency, earlier this month.
The company pointed out that Alvean has commercial operations in all continents and offices in the main sources, sales and trade centers (Geneva, Hong Kong, Bangkok, Shanghai, Bilbao, Miami, and São Paulo), which enables it to serve all regions of the world through its integrated logistics system.
Copersucar
São Paulo-based Copersucar is the world’s largest sugar and ethanol company and one of the most important exporters worldwide; with a capacity of more than 10 billion liters of ethanol, it is the largest sugar and ethanol trader in the world.
In its 50 years of activities, the company reached the number of 48 operating sugar cane mills in the states of São Paulo, Goiás, Paraná, and Minas Gerais.