Bunge is in talks to acquire a stake in Kepler Weber, a Brazilian silo maker that manufactures grain storage solutions. The stake would give Bunge access to Brazil’s silo infrastructure, aligning with its strategy to strengthen its agribusiness platform in key markets.
Trigono Capital currently holds a 15.3% stake in Kepler Weber, the largest shareholder. The stake has fluctuated over time, with previous reports indicating 20.01% in January 2023 and 22.7% in May 2024, but the most recent data shows 15.3%.
The transaction is still in discussion, with no financial terms or closing date disclosed. It will be subject to regulatory approvals and customary conditions.
Bunge’s recent financial performance shows a decline in adjusted earnings. In Q2 2025, adjusted net income per share fell to $1.31 from $1.73 in Q2 2024, and adjusted segment EBIT dropped to $376 million from $519 million. Full‑year 2024 GAAP diluted EPS was $7.99, down from $14.87 in 2023.
Kepler Weber’s recent results also show mixed performance. In Q3 2025, net profit fell 13.5% year‑over‑year to R$51.6 million, while net revenue contracted 3.6%. In Q1 2024, net revenue grew 17.7% to R$380.3 million and net profit increased 2%. The decline in Q3 2025 was attributed to expensive credit, high interest rates, and lower commodity prices.
Bunge has been pursuing a strategy to deepen its presence in Brazil, including a $500 million credit facility for Brazilian agribusiness, the launch of Fincrop, a fintech for rural producer loans, and a regenerative agriculture program in 2023. The company also completed its combination with Viterra, creating a larger agribusiness entity. The potential stake in Kepler Weber would further integrate Bunge’s supply chain and enhance its grain origination capabilities in Brazil.
The potential acquisition would give Bunge a foothold in Brazil’s silo infrastructure, a critical component of grain handling and storage. By acquiring a stake in Kepler Weber, Bunge would be better positioned to secure grain supply and improve logistics across its Brazilian operations.
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