Frontmatec, a global supplier of customized equipment and automation solutions to the red meat industry, has entered into an agreement to acquire a majority stake in a Uruguayan manufacturer of meat processing and packaging systems for Latin America, Asuan S.A.
The past three years has seen the development of a very positive and successful partnership between Frontmatec and Asuan. Several large projects in Latin America have been secured by combining our respective product offering and technical skills. Building on this success, it is natural for both parties to formally join forces. The acquisition in Asuan follows the Frontmatec strategy of geographical expansion in selective markets with strong growth potentials. The partnership strengthens the Frontmatec offering within beef processing where Asuan is particularly strong. The acquisition marks another step in the ambition of Frontmatec to become the global preferred supplier of equipment, projects, automation, and service to the red meat industry.
Frontmatec CEO, Allan Kristensen: “Latin America is a strategically important market to us. It is home to some of the largest and most respected meat processors in the world, supplying the domestic and global markets. Companies which are key exporters of both beef and pork to the rest of the world. With Asuan joining forces with Frontmatec we will strengthen our position in the Latin American market significantly. By combing the advanced automation solutions of Frontmatec with the local production, excellent sales and service capabilities of Asuan for the benefit of the meat processors this is a win-win.”
The current owners and founders of Asuan, Eduardo Delbono and Alvaro Maldonado will continue as joint CEO’s holding a significant ownership in Asuan.
Eduardo Delbono and Alvaro Maldonado commented: “Frontmatec is an excellent fit for Asuan. Frontmatec has a broad product offering and strong project capabilities within primary processing which we are confident will benefit our customers greatly. We are convinced that Asuan going forward together with Frontmatec will bring both value and benefits to the meat industry in Latin America as well as provide Frontmatec with Cattle knowledge and advanced packaging & logistics solutions."
Speaking about possible changes to the future business set-up, Eduardo and Alvaro added: “We have great expectations for the future in which we will be in a much stronger position to offer the latest cutting-edge technologies and solutions."