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Cargill completes purchase of Brazil's Granol assets

SAO PAULO, Dec 1 (Reuters) - U.S. grains trader Cargill on Friday said it completed the acquisition of three soybean crushing and biodiesel production plants in Brazil that were previously owned by Granol, a privately-held company.

Cargill, which made a binding offer for Granol's assets in August for an undisclosed amount, said it had already gotten Brazilian antitrust approval for the deal.

The acquisition will increase its production capacity for proteins and vegetable oils, as well as expand its biofuel supply capacity in the world's largest producer and exporter of soybeans.

It will also increase competition in the Brazilian soy crushing market, particularly with U.S. rival Bunge, which owns multiple plants in the South American nation.

"We are very excited about the integration of new assets," Paulo Sousa, president of Cargill in Brazil, said in the statement. "With the acquisition, we reaffirmed our commitment to Brazilian agribusiness, connecting those who produce food and energy with consumer markets." (Reporting by Ana Mano; Editing by Emelia Sithole-Matarise)

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