Union Agriculture Group

Union Agriculture Group (UAG) is the largest agricultural company operating in Uruguay with more than 100 farms across over 180,000 hectares, nearly 1% of Uruguay’s total land mass,[2] and 85,000 heads of cattle.

Union Agriculture Group
TypePrivate
Founded2008
FounderJuan Sartori
HeadquartersMontevideo, Uruguay
Area served
Uruguay
Revenue$134 million (2014)[1]
USD 48 million loss
Websiteunionagrogroup.com

It was founded in 2008 as a blueberry farming business, but swiftly diversified its agricultural operations into rice, soya bean and wheat production, as well as sheep and cattle raising. Through its subsidiaries, UAG is a fully integrated exporter of high quality agricultural goods with operations across the entire agricultural value chain, from production, trading and logistics to processing and export facilities.[3][4][5][6]

In May 2013, UAG listed on the Montevideo Stock Exchange (BVM), the first IPO in Uruguay since 2007.[7] To date, it is the largest company to list on the exchange and, as of 11 June 2014, accounted for approximately 70 per cent of the exchange’s market capitalisation.[8]

In February 2014, UAG acquired the Uruguayan assets of Argentine group El Tejar,[9] some 33,000 hectares of farmland, making UAG one of Uruguay’s top landowners and Latin America’s biggest agribusinesses.[10]

Granosur is a wholly owned subsidiary of UAG,[11] focused on physical grain trading, storage and logistics. It has more than 81,000 tonnes of grain storage capacity across five different locations in Uruguay.[12]

On 18 June 2015, UAG announced that it would issue shares for US$74 million, allowing the company to expand its capital base, following an annual loss of USD 48 million.[13]

Oscar Costa was appointed as CEO of UAG in June 2015.[14] The UAG management team also includes: Jose Pedro Sanchez, Deputy CEO; Oscar León, CFO; Edgardo Cardozo, Director and Technical Advisor;[15] and Augustine Lisorio, General Manager of Granosur, the commercial arm of UAG.

References
  1. "Oscar Costa es el nuevo CEO de UAG". El País. El País. Retrieved 23 October 2015.
  2. Sodio. "ÚTIMAS NOVEDADES". www.unionagrogroup.com. Retrieved 31 October 2015.
  3. "Si le va bien el accionista invertirá". Elobservador.com.uy. 26 January 2012. Retrieved 23 October 2015.
  4. Tracy Withers (16 August 2010). "Union Agriculture Plans NZ Farming Bid; to Beat Olam - Bloomberg Business". Bloomberg.com. Retrieved 23 October 2015.
  5. "Union Agriculture Group Sprott Resource Corp. Private Equity. Real Assets". Sprottresource.com. 30 June 2015. Retrieved 23 October 2015.
  6. "Un grupo agrнcola apuesta a minerнa en Uruguay y regiуn - Diario EL PAIS - Montevideo - Uruguay". Elpais.com.uy. 27 February 2013. Retrieved 23 October 2015.
  7. "Con su decisión de cotizar en bolsa, Union Agriculture Group puede abrir "un ciclo nuevo" en el mercado de capitales uruguayo". ESPECTADOR.COM. Retrieved 30 October 2015.
  8. "View from the C-suite: Union group goes from blueberries and beyond". www.fdiintelligence.com. Retrieved 30 October 2015.
  9. "Empresa agropecuaria UAG compró El Tejar por unos US$ 200 millones". El Observador. Retrieved 30 October 2015.
  10. Jude, Webber (20 February 2013). "Good times ahead for Uruguayan farmers?". FT.com.
  11. Sodio. "NEWS,LATEST NEWS". www.unionagrogroup.com. Retrieved 31 October 2015.
  12. "Granosur - Granosur nace para desarrollar una nueva forma de trabajo en el sector agropecuario del Uruguay y la región". www.granosur.com. Retrieved 31 October 2015.
  13. "UAG emitirá acciones por US$ 74 millones". Elpais.com.uy. Retrieved 6 July 2015.
  14. "Oscar Costa es el nuevo CEO de UAG". www.elpais.com.uy (in Spanish). Retrieved 31 October 2015.
  15. Sodio. "TEAM,Executive officers". www.unionagrogroup.com. Retrieved 31 October 2015.
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