You might also like
Bunge Global SA is a leading global agribusiness and food company with integrated operations that span from farmer to consumer . The company operates through four main segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy . Bunge Global SA is involved in purchasing, storing, transporting, processing, and selling agricultural commodities like oilseeds and grains, as well as producing and selling edible oil products . The company's operations are geographically diverse, with significant activities in North and South America, Europe, and Asia-Pacific .
- Agribusiness - Involves purchasing, storing, transporting, processing, and selling agricultural commodities like oilseeds and grains.
- Refined and Specialty Oils - Produces and sells edible oil products.
- Milling - Processes wheat and corn into milled products.
- Sugar and Bioenergy - Comprises Bunge's 50% interest in BP Bunge Bioenergia.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Gregory Heckman ExecutiveBoard | CEO | Board Member at Federal Reserve Bank of St. Louis, Non-Executive Director at OCI N.V., Member of NYSE Board Advisory Council, Member of Greater St. Louis Chair's Council Executive Committee | CEO since 2019, led strategic initiatives like Viterra integration and sustainability efforts. Former CEO of The Gavilon Group and COO of ConAgra Foods Commercial Products. | View Report → |
Aaron Buettner Executive | President, Food Solutions | None | President of Food Solutions since 2022, joined BG in 2015. Formerly VP of Global Oils at BG and held leadership roles at Cargill. | |
Christos Dimopoulos Executive | Co-President, Agribusiness | None | Joined BG in 2004, held roles in Agribusiness Segment. Appointed Co-President, Agribusiness in 2022. | |
Debra King Executive | Chief Technology Officer | None | CTO since 2022, previously CIO at Corteva and held IT leadership roles at Pfizer. | |
John Neppl Executive | CFO | Advisory Board Member at Adams Land & Cattle, Member of Creighton University Heider College of Business Dean’s Advisory Board | CFO since 2019, previously CFO at Green Plains Inc. and The Gavilon Group. Extensive experience in agriculture and energy commodities. | |
Joseph Podwika Executive | Chief Legal Officer | None | Chief Legal Officer since 2019. Previously held legal leadership roles at Nutrien Ltd. and PotashCorp. | |
Julio Garros Executive | Co-President, Agribusiness | None | Joined BG in 2002, held roles in finance, commercial, and business development. Appointed Co-President, Agribusiness in 2022. | |
Kellie Sears Executive | Chief Human Resources Officer | None | CHRO since 2023. Previously held HR leadership roles at BeautyHealth, Asklepios BioPharmaceutical, and Allergan. | |
Pierre Mauger Executive | Chief Transformation Officer | None | Joined BG in 2013 as Chief Development Officer. Appointed Chief Transformation Officer in 2019. Former partner at McKinsey & Company. | |
Robert Coviello Executive | Chief Sustainability Officer and Government Affairs | Board Member at Lamb Weston | Joined BG in 2003, held various commercial leadership roles globally. Appointed Chief Sustainability Officer in 2019. | |
Robert Wagner Executive | Chief Risk Officer | None | Chief Risk Officer since 2019. Previously CRO at Tricon International and COFCO Agri Ltd. | |
Ruth Ann Wisener Executive | Vice President, Investor Relations | None | VP of Investor Relations since 2019. Previously held leadership roles at Tyson Foods and ADM. | |
Bernardo Hees Board | Board Member | Executive Chairman of Avis Budget Group | Board member since 2019. Former CEO of Kraft Heinz, Burger King, and Am\u00e9rica Latina Log\u00edstica. Partner at 3G Capital. | |
Carol Browner Board | Board Member | Senior of Counsel at Covington & Burling LLP, Chair of League of Conservation Voters | Board member since 2013. Former EPA Administrator and Director of White House Office of Energy and Climate Change Policy. | |
Henry "Jay" Winship Board | Board Member | Founder of Pacific Point Capital and Pacific Point Advisors, Director at C.H. Robinson | Board member since 2018. Extensive experience in investment management, corporate governance, and financial oversight. CPA and CFA. | |
Mark Zenuk Board | Chair of the Board | Managing Partner at Tillridge Global Agribusiness Partners | Chair of the Board since 2018. Extensive experience in agribusiness and private equity. Former Managing Director at NGP Energy Capital Management and executive at ADM. | |
Michael Kobori Board | Board Member | Chief Sustainability Officer at Starbucks, Advisory Committee Member for Voluntary Foreign Assistance | Board member since 2021. Former VP of Sustainability at Levi Strauss & Co. and Director at The Asia Foundation. |
-
Given the limited visibility and liquidity in Q3 and Q4, especially with customers and farmers being slow to buy or sell, how are you addressing the challenges in forecasting and securing margins for these crucial quarters, and what strategies are in place to mitigate the risks associated with this uncertainty?
-
You mentioned that divesting your interest in the sugar & bioenergy joint venture in Brazil allows you to focus on core businesses; can you elaborate on why this business is no longer aligned with your long-term strategy and how this divestment will impact your overall portfolio and future earnings?
-
With the ongoing integration planning for the Viterra transaction adding strain to both teams during a challenging external environment, how confident are you in realizing the anticipated benefits of the merger, and what measures are being taken to ensure a smooth integration despite regulatory hurdles?
-
Despite overperforming in the first half and improved gross margins leading you to raise the full-year adjusted EPS guidance to approximately $9.25, why does the guidance appear conservative given the current crush margin environment, and what factors are causing caution about the second half, particularly Q4?
-
The refined products segment continues to exceed expectations due to both fuel and edible oil demand and benefits from tighter cocoa butter supply; how sustainable is this outperformance, and what steps are you taking to capitalize on these market conditions while mitigating potential risks?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
A principal competitor in the Refined and Specialty Oils segment, competing on factors such as price, raw material procurement, distribution capability, cost structure, brand recognition, product quality, product innovation, technical support, composition and nutritional value, and advertising and promotion. | |
AAK AB | A principal competitor in the Refined and Specialty Oils segment, competing on factors such as price, raw material procurement, distribution capability, cost structure, brand recognition, product quality, product innovation, technical support, composition and nutritional value, and advertising and promotion. |
Cargill | A major competitor in multiple segments, including Refined and Specialty Oils, North American corn milling, and the biodiesel market, competing on factors such as price, quality, product and service offerings, and geographic location. |
Fuji Oil Co. Ltd. | A principal competitor in the Refined and Specialty Oils segment, competing on factors such as price, raw material procurement, distribution capability, cost structure, brand recognition, product quality, product innovation, technical support, composition and nutritional value, and advertising and promotion. |
Wilmar | A principal competitor in the Refined and Specialty Oils segment and a joint venture partner in Vietnam Agribusiness Holdings Ptd. Ltd., competing on factors such as price, raw material procurement, distribution capability, cost structure, brand recognition, product quality, product innovation, technical support, composition and nutritional value, and advertising and promotion. |
M. Dias Branco | A major competitor in the Milling segment in Brazil, competing on factors such as price, raw material procurement, brand recognition, product quality, nutritional profile, dietary trends, and distribution capabilities. |
J. Macedo | A major competitor in the Milling segment in Brazil, competing on factors such as price, raw material procurement, brand recognition, product quality, nutritional profile, dietary trends, and distribution capabilities. |
Moinho Anaconda | A major competitor in the Milling segment in Brazil, competing on factors such as price, raw material procurement, brand recognition, product quality, nutritional profile, dietary trends, and distribution capabilities. |
Grande Moinho Cearense | A major competitor in the Milling segment in Brazil, competing on factors such as price, raw material procurement, brand recognition, product quality, nutritional profile, dietary trends, and distribution capabilities. |
Didion Inc. | A major competitor in the North American corn milling market, competing on factors such as price, raw material procurement, brand recognition, product quality, nutritional profile, dietary trends, and distribution capabilities. |
SEMO Milling, LLC | A major competitor in the North American corn milling market, competing on factors such as price, raw material procurement, brand recognition, product quality, nutritional profile, dietary trends, and distribution capabilities. |
Life Line Foods, LLC | A major competitor in the North American corn milling market, competing on factors such as price, raw material procurement, brand recognition, product quality, nutritional profile, dietary trends, and distribution capabilities. |
Gruma S.A.B. de C.V. | A major competitor in the North American corn milling market, competing on factors such as price, raw material procurement, brand recognition, product quality, nutritional profile, dietary trends, and distribution capabilities. |
Louis Dreyfus | A major competitor in the biodiesel market and a joint venture partner in Complejo Agroindustrial Angostura S.A. (CAIASA) in Paraguay, competing on factors such as price, quality, product and service offerings, and geographic location. |
A major competitor in the biodiesel market, competing on factors such as price, quality, product and service offerings, and geographic location. | |
COFCO | A major competitor in the biodiesel market, competing on factors such as price, quality, product and service offerings, and geographic location. |
A major competitor in the Brazilian sugar and ethanol market, competing with BP Bunge Bioenergia in the production of sugar, ethanol, and electricity. | |
São Martinho S.A. | A major competitor in the Brazilian sugar and ethanol market, competing with BP Bunge Bioenergia in the production of sugar, ethanol, and electricity. |
Biosev | A major competitor in the Brazilian sugar and ethanol market, competing with BP Bunge Bioenergia in the production of sugar, ethanol, and electricity. |
British Sugar PLC | A major international competitor in the sugar market, competing with BP Bunge Bioenergia in the production of sugar. |
Südzucker AG | A major international competitor in the sugar market, competing with BP Bunge Bioenergia in the production of sugar. |
Tereos S.A. | A major international competitor in the sugar market, competing with BP Bunge Bioenergia in the production of sugar. |
Sucden S.A. | A major international competitor in the sugar market, competing with BP Bunge Bioenergia in the production of sugar. |
ED&F Man Limited | A major international competitor in the sugar market, competing with BP Bunge Bioenergia in the production of sugar. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
CJ Latam Participaçõs Ltda. and CJ Selecta S.A. | 2025 | Bunge will acquire CJ Latam Participaçõs Ltda. and CJ Selecta S.A. for a total cash consideration of approximately $510 million, aiming to expand its oilseed processing and soy protein concentrate production in Brazil. The deal is set to close in early 2025, subject to customary conditions, and is financed through operating cash and existing facilities. |
Viterra Limited | 2024 | The acquisition is structured as a stock and cash transaction, with Viterra shareholders receiving about 65.6 million Bunge shares and $2.0 billion in cash, valuing the deal between $6.3 billion and $7.0 billion. This move is strategic in creating a global agribusiness leader, financed partly by adjusted acquisition debt and senior notes, and includes a $400 million termination fee if antitrust clearances are not obtained. |
Terminal XXXIX De Santos S.A. (T-39) | 2024 | Bunge agreed to acquire a 25% interest in T-39 for approximately $54 million (BRL 300 million), reinforcing its presence in port facility operations at the Port of Santos. The transaction is expected to close in early 2025, pending customary closing conditions. |
Nova Mutum Silo | 2024 | As part of an agreement with Espaçogrãos, the acquisition of the Nova Mutum silo—one of three grain elevators in Brazil—is valued at a combined $85 million (including $35 million in advance, refundable under conditions), with separate closings planned in 2024 and 2025 to enhance Bunge’s logistical capabilities. |
CJ Selecta | 2023 | Bunge’s acquisition of CJ Selecta, valued at approximately $600 million (reflecting a 65% interest), is aimed at bolstering its feed and aquaculture operations and expanding soy protein concentrate capabilities. The deal is expected to be accretive from day one, targeting low- to mid-teens returns, with closing anticipated in 2024. |
Fuji Oil's Port-Based Refinery | 2023 | The acquisition of Fuji Oil's port-based refinery in Louisiana was completed to mitigate capacity constraints in domestic tropical oil operations, integrating the facility to rapidly serve food channels and support expansion plans. This strategic move contributed to a raised capital expenditure outlook and reinforced Bunge’s operational network in North and South America. |
Recent press releases and 8-K filings for BG.
- Bunge Global SA reported Q1 2025 results with GAAP diluted EPS of $1.48 (down from $1.68 in Q1 2024) and adjusted EPS of $1.81 versus $3.04 last year, reflecting robust agribusiness performance and a strong start in a dynamic market .
- Full-year guidance reaffirmed with an adjusted EPS outlook of approximately $7.75 for fiscal 2025 .
- Key strategic actions include readiness to close the Viterra transaction pending regulatory approval, termination of the CJ Selecta acquisition, and agreements to divest the European margarines/spreads and U.S. corn milling businesses to sharpen the global portfolio .
- Operational highlights note regional margin differences with stronger soy crush margins in Europe offsetting lower softseed margins in North America, reflecting a shift toward more spot transactions .
- Robust liquidity and capital allocation were maintained through committed credit facilities of $8.7 billion, a cash balance of $3.2 billion, and Q1 adjusted funds from operations of $392 million used for dividends, growth CapEx, and strategic investments .
- BLFC extended the expiration date of its Exchange Offers and Consent Solicitations from May 5, 2025 to June 13, 2025.
- The offers target the exchange of existing 2.000% Notes due 2026, 4.900% Notes due 2027, 3.200% Notes due 2031, and 5.250% Notes due 2032 for up to $1.95 billion in new note issuances and cash considerations.
- The extension is linked to Bunge’s pending acquisition of Viterra, with further deadline extensions possible if the Business Combination is not closed by the new expiration date.
- BLFC extended the expiration date for its Exchange Offers and Consent Solicitations from April 7, 2025 to May 5, 2025.
- The offer covers four series of Existing Viterra Notes (due 2026, 2027, 2031, and 2032) with up to $1.95 billion in new notes offered.
- These measures are part of efforts related to Bunge’s pending Business Combination with Viterra, with potential for further extension if closing conditions are not met.
- Supplemental indentures executed amend existing terms by modifying covenants and releasing certain guarantees, subject to the transaction’s settlement.