Investors purchase 7,000 acres in Brazil; more deals possible [View All]

[Quetzal]

Investors purchase 7,000 acres in Brazil; more deals possible

ROYAL, Iowa -- Farmers from Iowa and Minnesota are among the investors who have purchased 7,000 acres of farmland in Brazil.

David Kruse, president of Brazil Iowa Farms, LLC, said the company has secured almost $13 million in private investment capital for the purchase and operation of a 7,000-acre farm in the western part of Bahia, a state in Brazil.

The 250 initial investors come from 24 states and Canada.

The limited-liability company expects to take over the farm on July 31 and will consider purchasing additional land and value-added agricultural business in Brazil. The focus initially will be on cotton, soybean and corn production along with cotton processing. Livestock operations might be part of the future.

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