Sadot Group Inc. Commences Brazilian Trading Operations with First Booked Transaction
Rhea-AI Summary
Sadot Group Inc. (NASDAQ:SDOT) has announced the commencement of its Brazilian trading operations through its subsidiary, Sadot Brasil Ltda. The company executed its first agri-commodity trade, selling Brazilian sesame to a customer in the United Arab Emirates. This marks a significant milestone in Sadot's expansion strategy and introduces sesame as a new product line for the group.
CEO Michael Roper highlighted the strategic importance of Brazil in supporting future growth and emphasized the strength of Sadot's diversification strategy. The sesame trade demonstrates the company's execution capabilities in the $7.3 billion sesame market, which has applications in food processing, culinary, and pharmaceutical industries.
The transaction showcased inter-company synergies, with cooperation between Sadot Brazil and Sadot Canada Inc. Sadot Brazil Ltda, formed in January 2024, aims to build Brazilian origination capabilities and establish logistical foundations for exporting commodities.
Positive
- Executed first agri-commodity trade in Brazil, expanding into a new market
- Introduced sesame as a new product line, diversifying the company's offerings
- Demonstrated inter-company synergies between Sadot Brazil and Sadot Canada Inc.
- Established presence in the $7.3 billion sesame market with growth potential
Negative
- None.
News Market Reaction
On the day this news was published, SDOT declined 10.68%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
FORT WORTH, TX / ACCESSWIRE / July 29, 2024 / Sadot Group Inc. (NASDAQ:SDOT) ("Sadot" or the "Company"), today announced that its recently formed Brazilian subsidiary, Sadot Brasil Ltda, executed its first agri-commodity trade originating Brazilian sesame and selling it to a customer in the United Arab Emirates.
"Commencing trading operations in Brazil is a key milestone that underscores the strategic importance of this region in supporting our future growth," said Michael Roper, CEO of Sadot. "It's also significant that the first transaction is in sesame, which introduces a new commodity or product line for the entire group. This demonstrates the strength of our diversification strategy and execution capabilities in a large,
Sadot's integrated platform, with its global reach and local expertise, provides innovative, leverageable solutions for customers. The initial sesame trade further deepened the inter-company synergies through cooperation between Sadot Brazil and the newly formed Sadot Canada Inc, which assisted with the destination sale. Previously, the Brazilian team also cooperated with Sadot Latam helping source multiple cargoes for export from Brazil.
Sadot Brazil Ltda was formed in January 2024 as a wholly owned subsidiary of the Sadot Group Inc. to build the Company's Brazilian origination capabilities from local farmer collectives, as well as establishing logistical foundations for exporting the commodities. Based in Curitiba, the capital and largest city of the Brazilian state of Paraná, the subsidiary is managed by Paulo de Sa and Flavio de Campos, two highly experienced executives with extensive expertise in the Brazilian Agri-food markets.
About Sadot Group Inc.
Sadot Group Inc. has rapidly established itself as an emerging player in the global food supply chain. Sadot Group provides innovative and sustainable supply chain solutions that address the world's growing food security challenges.
Sadot Group currently operates within key verticals of the global food supply chain including global agri-commodity origination and trading operations for food/feed products such as soybean meal, wheat and corn, and farm operations producing grains and tree crops in Southern Africa.
Sadot Group connects producers and consumers across the globe, sourcing agri-commodity products from producing geographies such as the Americas, Africa and the Black Sea and delivering to markets in Southeast Asia, China and the Middle East/North Africa region.
Sadot Group is headquartered in Ft. Worth, Texas with subsidiary operations in Miami, Dubai, Curitiba, Singapore, Kyiv, Toronto and Zambia. For more information, please visit www.sadotgroupinc.com.
For additional updates, news and general knowledge related to the global Agri-commodity supply-chain, please visit our website at: www.sadotgroupinc.com and our social media postings on Facebook and X (Twitter)
Forward-Looking Statements
This press release may include "forward-looking statements" pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products, or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as "should", "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," and "proposes." Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Sadot Group, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.
Investor Relations:
Frank Pogubila
SVP, Integrous Communications
W - 951.946.5288
E - IR@sadotco.com
SOURCE: Sadot Group Inc.
View the original press release on accesswire.com
FAQ
What is Sadot Group Inc.'s first transaction in Brazil?
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How does the Brazilian sesame trade demonstrate Sadot Group Inc.'s (NASDAQ:SDOT) strategy?
