World Footwear

Companies

44% stake in Alpargatas sold for over 720 million US dollars

Nov 26, 2015 Brazil
44% stake in Alpargatas sold for over 720 million US dollars
Camargo Corrêa S.A. confirmed the business is going ahead. J&F Investimentos SA is taking over control of the Havaianas flip-flops maker. The deal involves 2.7 billion reais (roughly 720 million US dollars)
J&F Investimentos, a family’s investment holding company controlling one of the world’s largest meat exporter JBS SA, said it would pay the construction conglomerate Camargo Correa SA 2.7 billion reais (roughly 720 million US dollars) for a 44.1% controlling stake in the footwear maker and distributor Alpargatas SA.

The purchase of Alpargatas will further diversify the holdings of J&F, which also controls pulp and paper maker Eldorado Brasil Celulose SA, dairy-products company Vigor Alimentos SA and lender Banco Original SA.

According to J&F, Alpargatas’s global business is a good fit to their portfolio, given their own experience with international operations and brand development.

The sale comes three weeks after Alpargatas sold its Topper and Rainha brands in Brazil to a group of investors led by magnate Carlos Wizard Martins. A deal which also included 20% of  Topper operations in Argentina and in the rest of the world (excepts US and China) and Rainha’s operations in the world.

Image credits: Camargo Corrêa S.A


Related Events

  • May
    14
    May 14-May 16, 2024 | Gramado, Brazil

    SICC- Salão Internacional do Couro e do Calçado

  • May
    21
    May 21-May 23, 2024 | São Paulo, Brazil

    Brazilian Footwear Show - São Paulo

  • Nov
    11
    Nov 11-Nov 13, 2024 | São Paulo, Brazil

    Brazilian Footwear Show

  • Nov
    18
    Nov 18-Nov 20, 2024 | Gramado, Brazil

    Zero Grau

Related Organizations

  • CICB - Centre for the Brazilian Tanning Industry

    CICB - Centre for the Brazilian Tanning Industry

    Brazil
  • ABQTIC - Brazilian Association of Leather Industry Chemists and Technicians

    ABQTIC - Brazilian Association of Leather Industry Chemists and Technicians

    Brazil
  • ABICALÇADOS - Brazilian Footwear Industries Association

    ABICALÇADOS - Brazilian Footwear Industries Association

    Brazil
  • ÁPICE -  Association of the Industry of Sporting Goods

    ÁPICE - Association of the Industry of Sporting Goods

    Brazil