Global Eggs is based in Luxembourg and operates Granja Faria in Brazil.
Ricardo Faria said the deal was not related to reduced supplies from the US due to bird flu, which has driven up egg prices and forced the US to increase imports from Brazil.
Ricardo Faria, often called the “egg king”, is confident that egg consumption worldwide will continue to grow.
The entrepreneur said that there has been a shift in egg consumption over the past 15 years. Previously, eggs were mainly in demand among low-income households, but now they have become a staple food for all social and economic classes.
Last year, Faria launched Global Eggs, and in November it made its first foreign acquisition, Spain's Grupo Hevo.
According to him, in 2024, the combined revenue of Hillandale, Hevo, and Granja Faria was over $2 billion.
According to Faria, prior to the announcement of the Hillandale purchase, Global Eggs had plans to hold an initial public offering in New York, but the company will now focus on integrating its latest acquisition and strengthening its brands.
Source: Reuters
