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Katayama Alimentos seeks buyer

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Vincent

The controlling shareholders of Katayama Alimentos hired Itaú BBA to sell the company, Valor’s business website Pipeline has found. It is one of the largest in the country in production and sale of eggs (fresh, liquid, and powdered), founded 80 years ago by the Japanese family. They sell over 1 billion eggs per year, produced by 4 million chickens and 250,000 quails.Four sources say that the process is underway and that the bank has already approached potential strategic buyers and also investment funds. Sought by Valor, Katayama Alimentos said that the hiring of a bank for the sale of the company "is not true." CEO Gilson Katayama said he was unaware of the origin of this information.Based in Guararapes, São Paulo, the company competes for the third place in a market led by Mantiqueira, which grosses more than R$1 billion per year, and by Grupo Faria. According to two executives who know the industry well, Katayama grosses between R$250 million and R$300 million with eggs.The sale process occurs in the wake of two difficult years for the egg industry. After a golden decade, when per capita consumption jumped to 257 units in 2021from 148 units in 2010, farmers suffered with the increase in the prices of grain, a basic product in chicken feed.One key margin indicator is the ratio between egg and feed prices. Historically, it took two to three eggs to buy one kilo of feed. In recent years, however, expensive grain has caused this ratio to rise to 4.5 times. Recently, the ratio has returned to 3.5 times, meaning that margins are still tighter than normal.One reason for seeking an investor is that egg farms need to undergo a revolution, recalls one source, by abandoning the dominant practice of...

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