Change of ownership at Alpargatas

Alpargatas, Brazil’s big manufacturer of sports and casual footwear (including for Timberland and Mizuno), has announced that its current owner, the privately held company Camargo Corrêa S.A., has sold a substantial part of its shares to J&F Investimentos S.A.

The latter is a Brazilian company which is very much engaged in the meat processing industry which aims to diversify its business. At this point, J&F acquires 66.99 percent of the common shares for nearly 2.7 billion real (€687.6 million).

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