SAO PAULO — Global Eggs, a company controlled by Brazilian entrepreneur Ricardo Faria, has agreed to buy U.S. egg producer Hillandale Farms for US$1.1 billion, Faria told Reuters on Thursday.
Global Eggs is based in Luxembourg and also operates Granja Faria in Brazil.
Faria said the deal is unrelated to tight U.S. supplies due to bird flu that has driven up egg prices and caused the U.S. to boost imports from Brazil.
Often referred to as the “Egg King,” Faria said he is confident egg consumption will continue increasing globally.
“We are looking at the world, and mainly at the Western world,” he said.
The entrepreneur said there was a shift in egg consumption patterns over the past 15 years. Previously, eggs were primarily in demand among lower-income households, but they have become a staple across all social and economic classes, he said.
Faria established Global Eggs last year and it made its first overseas acquisition, Spain’s Grupo Hevo, in November.
He said Hillandale, Hevo and Granja Faria had combined revenue of over US$2 billion in 2024.
As part of the Hillandale acquisition, the private equity arm of Brazilian investment bank BTG Pactual will invest US$300 million in Global Eggs in exchange for an 11 per cent stake in the group, Faria added.
Prior to announcing the Hillandale purchase, Global Eggs had plans for an initial public offering in New York, but for now, the company will focus on integrating its latest acquisition and strengthening its brands, Faria said.
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Reporting by Luciana Magalhaes; Writing by Isabel Teles; Editing by Jan Harvey and Rod Nickel.
