Union Agriculture Group

Union Agriculture Group
Private
Founded 2008
Founder Juan Sartori
Headquarters Montevideo, Uruguay
Area served
 Uruguay
Revenue $134 million (2014)[1]
USD 48 million loss
Website unionagrogroup.com

Union Agriculture Group (UAG) is the largest agricultural company operating in Uruguay with more than 100 farms across over 180,000 hectares, nearly 1% of Uruguay’s total land mass,[2] and 85,000 heads of cattle.

It was founded in 2008 as a blueberry farming business, but swiftly diversified its agricultural operations into rice, soya bean and wheat production, as well as sheep and cattle raising. Through its subsidiaries, UAG is a fully integrated exporter of high quality agricultural goods with operations across the entire agricultural value chain, from production, trading and logistics to processing and export facilities.[3][4][5][6]

In May 2013, UAG listed on the Montevideo Stock Exchange (BVM), the first IPO in Uruguay since 2007.[7] To date, it is the largest company to list on the exchange and, as of 11 June 2014, accounted for approximately 70 per cent of the exchange’s market capitalisation.[8]

In February 2014, UAG acquired the Uruguayan assets of Argentine group El Tejar,[9] some 33,000 hectares of farmland, making UAG one of Uruguay’s top landowners and Latin America’s biggest agribusinesses.[10]

Granosur is a wholly owned subsidiary of UAG,[11] focused on physical grain trading, storage and logistics. It has more than 81,000 tonnes of grain storage capacity across five different locations in Uruguay.[12]

On 18 June 2015, UAG announced that it would issue shares for US$74 million, allowing the company to expand its capital base, following an annual loss of USD 48 million.[13]

Oscar Costa was appointed as CEO of UAG in June 2015.[14] The UAG management team also includes: Jose Pedro Sanchez, Deputy CEO; Oscar León, CFO; Edgardo Cardozo, Director and Technical Advisor;[15] and Augustine Lisorio, General Manager of Granosur, the commercial arm of UAG.

References

  1. ↑ "Oscar Costa es el nuevo CEO de UAG". El País. El País. Retrieved 23 October 2015.
  2. ↑ Sodio. "ÚTIMAS NOVEDADES". www.unionagrogroup.com. Retrieved 2015-10-31.
  3. ↑ "Si le va bien el accionista invertirá". Elobservador.com.uy. 2012-01-26. Retrieved 2015-10-23.
  4. ↑ Tracy Withers (2010-08-16). "Union Agriculture Plans NZ Farming Bid; to Beat Olam - Bloomberg Business". Bloomberg.com. Retrieved 2015-10-23.
  5. ↑ "Union Agriculture Group Sprott Resource Corp. Private Equity. Real Assets". Sprottresource.com. 2015-06-30. Retrieved 2015-10-23.
  6. ↑ "Un grupo agrнcola apuesta a minerнa en Uruguay y regiуn - Diario EL PAIS - Montevideo - Uruguay". Elpais.com.uy. 2013-02-27. Retrieved 2015-10-23.
  7. ↑ "Con su decisión de cotizar en bolsa, Union Agriculture Group puede abrir "un ciclo nuevo" en el mercado de capitales uruguayo". ESPECTADOR.COM. Retrieved 2015-10-30.
  8. ↑ "View from the C-suite: Union group goes from blueberries and beyond". www.fdiintelligence.com. Retrieved 2015-10-30.
  9. ↑ "Empresa agropecuaria UAG compró El Tejar por unos US$ 200 millones". El Observador. Retrieved 2015-10-30.
  10. ↑ Jude, Webber (2013-02-20). "Good times ahead for Uruguayan farmers?". FT.com.
  11. ↑ Sodio. "NEWS,LATEST NEWS". www.unionagrogroup.com. Retrieved 2015-10-31.
  12. ↑ "Granosur - Granosur nace para desarrollar una nueva forma de trabajo en el sector agropecuario del Uruguay y la región". www.granosur.com. Retrieved 2015-10-31.
  13. ↑ "UAG emitirá acciones por US$ 74 millones". Elpais.com.uy. Retrieved 2015-07-06.
  14. ↑ "Oscar Costa es el nuevo CEO de UAG". www.elpais.com.uy (in Spanish). Retrieved 2015-10-31.
  15. ↑ Sodio. "TEAM,Executive officers". www.unionagrogroup.com. Retrieved 2015-10-31.
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