Brasil Ecodiesel acquires Vanguarda do Brasil in $1B deal

In Brazil, shareholders of Brasil Ecodiesel Industria & Comercio de Biocombustiveis & Oleos Vegetais SA, a biodiesel producer suffering from a lack of feedstock supply, approved the acquisition of agriculture company Vanguarda do Brasil SA to create a 1.79 billion-real ($1.08 billion) biofuels production company.

Brasil Ecodiesel operates six refineries, and Vanguarda owns 568,300 acres of mainly soy, corn and cotton plantations in the states of Mato Grosso and Bahia, according to Paracchini.