Fundraising will be used to anticipate the rollover of part of the R$900 million debt due in 2026, says CEO
Caramuru unit in Itumbiara: projection is to end the year with revenue of R$ 8 billion, an increase of 9,6% in
in relation to 2024 (Caramuru/Disclosure)
Cesar HS Rezende
Agro and macroeconomics reporter
Published on October 6, 2025 at 12:04 pm.
After raising US$200 million (approximately R$1,066 billion at current exchange rates) to bolster working capital for the next harvest, in a round led by BTG Pactual (the same group that controls EXAME), Caramuru Alimentos—a soybean crusher and biodiesel producer—is experiencing a "very positive" 2025, says Marcus Thieme, the company's CEO. The company projects a revenue of R$8 billion, up 9,6% compared to 2024.
"We raised these funds to finance the next harvest—especially the purchase of soybeans—and to balance the debt profile between short and long terms. It doesn't make sense to concentrate everything in the long term, due to interest costs, nor everything in the short term, due to liquidity risk; we sought a middle ground. The transaction came at a good time," he states.
According to the executive, the fundraising anticipates the rollover of part of the debt (R$900 million) due in 2026. The amount was raised abroad due to lower interest rates than in Brazil — the Selic, the country's base interest rate, is at 15% per year.
The financing was backed by a green framework associated with biofuels and family farming—a formal sustainable finance standard that links the use of resources to these categories, with criteria, monitoring, and accountability for environmental and social impacts. With this transaction, the company claims that more than 65% of its debt is now classified as green.
Founded in 1964 in Maringá, Paraná, by Múcio de Souza Rezende, Caramuru operates in the animal, industrial, and consumer products segments—such as Sinhá cooking oil—and focuses on soybean crushing (with a capacity of over 2,1 million tons per year), with three plants in Goiás and one in Sorriso, Mato Grosso. Corn operations account for less than 10% of revenue.
Soybean processing produces oil and meal, with an emphasis on higher-value products such as soy protein concentrate (SPC), with 62% protein, and High Pro (soybean meal with at least 48% protein). SPC has been supplying salmon and other fish production in Norway for over a decade and, in 2025, began serving customers in Chile (salmon and trout), with prospecting for new markets in Asia.
"We don't own land, nor do we plant crops. We buy soybeans and corn—mostly soybeans—from more than 5,5 producers in southern Goiás and Mato Grosso. Therefore, we need constant access to markets: it's a capital-intensive activity, especially at the beginning of the year, starting in February, when we begin originating soybeans for crushing," says Thieme.
This year, the company is expected to close with investments of R$300,3 million to advance the modernization of its logistics infrastructure and diversify its business. Caramuru allocated R$94,1 million to storage and outflow structures at the port of Miritituba (Pará) and began construction of a logistics terminal in Itaituba (Pará), in partnership with 3tentos.
Fuel of the future
In addition to crushing soybeans, Caramuru produces 550 million liters of biodiesel annually, making it the fifth-largest biofuel producer in the country. According to the CEO, increasing the biodiesel blend from 14% to 15% (B15) this year contributed to the company's strong performance. Biodiesel accounts for approximately 40% of the company's revenue.
This year, the Fuel of the Future Law came into effect, increasing the percentages of ethanol in gasoline and biodiesel in diesel. The new legislation also provides incentives for green diesel and sustainable aviation fuel (SAF).
In the case of biodiesel, the current 15% blend began to gradually increase from 2025, with increases of 1 percentage point per year, until reaching 20% in 2030. The CEO expects that, in 2026, the percentage will rise to 16% (B16).
“The blend has increased and this benefits Caramuru because, when crushing soybeans, around 20% of the processed volume results in oil, which is mostly refined to produce biodiesel: more than 80% of the oil goes to this end, and a smaller portion goes to consumer oil [Sinha brand],” says the CEO.
For the executive, the legislation is key for the sector and, especially, for Caramuru, as it brings predictability to the agricultural sector, especially for companies that can invest in cleaner fuels. Furthermore, the incentive for biofuels reinforces the ESG vision of agriculture.
"To produce biodiesel in Brazil, it's necessary to promote family farming. The impact is direct on small producers, from whom we need to source soybeans to produce oil and, later, biodiesel. The more biodiesel is produced in the country, the greater the impact on family farming," he states.
In parallel, the company is structuring a corn ethanol project in Novo Ubiratã, Mato Grosso, estimated at R$1,4 billion, requesting R$500 million from the BNDES/Climate Fund and complementary lines. The thesis, says the CEO, is based on the high availability and competitiveness of corn in the region and the growing use of ethanol.
https://exame.com/agro/apos-aporte-de-us-200-mi-caramuru-projeta-receita-de-r-8-bi-em-2025-e-foca-no-b16-no-proximo-ano/
Fundraising will be used to anticipate the rollover of part of the R$900 million debt due in 2026, says CEO
Caramuru unit in Itumbiara: projection is to end the year with revenue of R$ 8 billion, an increase of 9,6% in
in relation to 2024 (Caramuru/Disclosure)
Cesar HS Rezende
Agro and macroeconomics reporter
Published on October 6, 2025 at 12:04 pm.
After raising US$200 million (approximately R$1,066 billion at current exchange rates) to bolster working capital for the next harvest, in a round led by BTG Pactual (the same group that controls EXAME), Caramuru Alimentos—a soybean crusher and biodiesel producer—is experiencing a "very positive" 2025, says Marcus Thieme, the company's CEO. The company projects a revenue of R$8 billion, up 9,6% compared to 2024.
"We raised these funds to finance the next harvest—especially the purchase of soybeans—and to balance the debt profile between short and long terms. It doesn't make sense to concentrate everything in the long term, due to interest costs, nor everything in the short term, due to liquidity risk; we sought a middle ground. The transaction came at a good time," he states.
According to the executive, the fundraising anticipates the rollover of part of the debt (R$900 million) due in 2026. The amount was raised abroad due to lower interest rates than in Brazil — the Selic, the country's base interest rate, is at 15% per year.
The financing was backed by a green framework associated with biofuels and family farming—a formal sustainable finance standard that links the use of resources to these categories, with criteria, monitoring, and accountability for environmental and social impacts. With this transaction, the company claims that more than 65% of its debt is now classified as green.
Founded in 1964 in Maringá, Paraná, by Múcio de Souza Rezende, Caramuru operates in the animal, industrial, and consumer products segments—such as Sinhá cooking oil—and focuses on soybean crushing (with a capacity of over 2,1 million tons per year), with three plants in Goiás and one in Sorriso, Mato Grosso. Corn operations account for less than 10% of revenue.
Soybean processing produces oil and meal, with an emphasis on higher-value products such as soy protein concentrate (SPC), with 62% protein, and High Pro (soybean meal with at least 48% protein). SPC has been supplying salmon and other fish production in Norway for over a decade and, in 2025, began serving customers in Chile (salmon and trout), with prospecting for new markets in Asia.
"We don't own land, nor do we plant crops. We buy soybeans and corn—mostly soybeans—from more than 5,5 producers in southern Goiás and Mato Grosso. Therefore, we need constant access to markets: it's a capital-intensive activity, especially at the beginning of the year, starting in February, when we begin originating soybeans for crushing," says Thieme.
This year, the company is expected to close with investments of R$300,3 million to advance the modernization of its logistics infrastructure and diversify its business. Caramuru allocated R$94,1 million to storage and outflow structures at the port of Miritituba (Pará) and began construction of a logistics terminal in Itaituba (Pará), in partnership with 3tentos.
Fuel of the future
In addition to crushing soybeans, Caramuru produces 550 million liters of biodiesel annually, making it the fifth-largest biofuel producer in the country. According to the CEO, increasing the biodiesel blend from 14% to 15% (B15) this year contributed to the company's strong performance. Biodiesel accounts for approximately 40% of the company's revenue.
This year, the Fuel of the Future Law came into effect, increasing the percentages of ethanol in gasoline and biodiesel in diesel. The new legislation also provides incentives for green diesel and sustainable aviation fuel (SAF).
In the case of biodiesel, the current 15% blend began to gradually increase from 2025, with increases of 1 percentage point per year, until reaching 20% in 2030. The CEO expects that, in 2026, the percentage will rise to 16% (B16).
“The blend has increased and this benefits Caramuru because, when crushing soybeans, around 20% of the processed volume results in oil, which is mostly refined to produce biodiesel: more than 80% of the oil goes to this end, and a smaller portion goes to consumer oil [Sinha brand],” says the CEO.
For the executive, the legislation is key for the sector and, especially, for Caramuru, as it brings predictability to the agricultural sector, especially for companies that can invest in cleaner fuels. Furthermore, the incentive for biofuels reinforces the ESG vision of agriculture.
"To produce biodiesel in Brazil, it's necessary to promote family farming. The impact is direct on small producers, from whom we need to source soybeans to produce oil and, later, biodiesel. The more biodiesel is produced in the country, the greater the impact on family farming," he states.
In parallel, the company is structuring a corn ethanol project in Novo Ubiratã, Mato Grosso, estimated at R$1,4 billion, requesting R$500 million from the BNDES/Climate Fund and complementary lines. The thesis, says the CEO, is based on the high availability and competitiveness of corn in the region and the growing use of ethanol.
https://exame.com/agro/apos-aporte-de-us-200-mi-caramuru-projeta-receita-de-r-8-bi-em-2025-e-foca-no-b16-no-proximo-ano/