By Luciana Magalhaes
SAO PAULO (Reuters) – Global Eggs, a group controlled by Brazilian entrepreneur Ricardo Faria, has completed its $1.1 billion acquisition of U.S. egg producer Hillandale Farms, just weeks after closing a new deal in Europe, Faria told Reuters on Tuesday.
Last month, Global Eggs signed an agreement to acquire Spanish company Granja Legaria, Faria said, adding that Legaria has about 350,000 birds. He did not disclose the value of the deal.
Global Eggs will now focus on ramping up its U.S. production while pursuing further broadening its European presence, Faria said, adding he is in talks with other egg producers in Europe.
Last November Global Eggs acquired Spain’s Grupo Hevo.
“We are really happy with Europe and very upbeat with our operation in the U.S.,” he said.
Hillandale is among the top five egg producers in the U.S. and currently raises about 20 million laying hens.
“Our commitment to the U.S. consumer is to increase the flock by one million birds in a year,” said Faria.
The United States is currently grappling with an egg shortage following a bird flu outbreak that has killed nearly 170 million chickens, turkeys and other birds since 2022, leading the U.S. to increase egg imports from Turkey, Brazil and South Korea.
(Reporting by Luciana Magalhaes; Additional reporting by Ana Mano; Editing by Susan Fenton)
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