Type Private Headquarters Montevideo, Uruguay Founded 2008 Area served Uruguay | Website unionagrogroup.com Founder Juan Sartori Revenue 134 million USD (2014) Parent organization Union Group | |
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Canal 10 union agriculture group en la bolsa de valores de montevideo entrevista con juan sartori
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, and 85,000 heads of cattle.
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.
In May 2013, UAG listed on the Montevideo Stock Exchange (BVM), the first IPO in Uruguay since 2007. 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.
In February 2014, UAG acquired the Uruguayan assets of Argentine group El Tejar, some 33,000 hectares of farmland, making UAG one of Uruguay’s top landowners and Latin America’s biggest agribusinesses.
Granosur is a wholly owned subsidiary of UAG, 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.
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.
Oscar Costa was appointed as CEO of UAG in June 2015. The UAG management team also includes: Jose Pedro Sanchez, Deputy CEO; Oscar León, CFO; Edgardo Cardozo, Director and Technical Advisor; and Augustine Lisorio, General Manager of Granosur, the commercial arm of UAG.