Amaggi Argentina expanded its agreement with Los Grobo Agropecuaria and will lease its grain storage facilities in 2027 and 2028, with a fixed and variable fee, an option to purchase grain and the transfer of employees while maintaining their seniority and conditions. The contract requires judicial approval.
The Argentine subsidiary of Brazil's Amaggi expanded the framework commercial cooperation agreement it maintains with Los Grobo Agropecuaria, a company in preventive insolvency proceedings of which it is one of the main creditors. Although since late 2025 Amaggi had been operating part of the debtor's grain storage network under the agreement, the new understanding incorporates the lease of the grain storage facilities for two years, corresponding to 2027 and 2028.
As consideration, Amaggi will pay a lease fee made up of a fixed component in dollars and a variable component tied to the results of the commercial operation. In addition, Los Grobo will assign to Amaggi its contractual position in the lease agreements for third-party grain storage facilities, so that the company will also assume the operation of those facilities currently leased by the debtor.
During the term of the agreement, Amaggi undertakes to deliver, or to arrange for the seller to deliver, to the facilities the soybean, corn, sunflower, wheat, sorghum and barley grain it originates in 2027 and 2028, as well as to market the agricultural inputs it has available. It will also have an irrevocable option to acquire all or part of the grain in the possession of or originated by Los Grobo and a preferential right to purchase the debtor's facilities.
The agreement also provides for the transfer to Amaggi of the Los Grobo Agropecuaria employees who work at the facilities, always with the workers' consent and maintaining their seniority and current employment conditions. "The decision is based on the results obtained during the first stage of the agreement, which allowed Los Grobo Agropecuaria to sustain the continuity of its commercial operations and provide predictability to its clients, while Amaggi strengthened its grain origination capacity and expanded its presence in different production regions of the country," the company said in a statement.
Los Grobo Agropecuaria's quarterly results report for July-September of this year recorded EBITDA of 1.25 million dollars, compared with a loss of 2.96 million dollars in the same period of 2025. The contract, which will take effect after approval by the judge overseeing the insolvency process, "will make it possible to ensure the continuity of jobs and guarantee the operation of the facilities under the new structure." On February 5, 2027, Los Grobo will hold an informational hearing to explain its payment proposal to creditors, with an exclusivity period that expires on February 16.
