Started by European immigrants arriving in Argentina in the late 19th century to take advantage of the newly created wheatlands. Two families join forces to play a large role in the grain and oilseed business, initially in Argentina and then worldwide.
The owning families expanded their business into industry in Argentina and Brazil. Including textiles, paint, chemicals, fertilizer, banking and insurance. Throughout the early and mid-20th century they continued to be successful until 1974 when two third generation family members Jorge and Juan Born, were kidnapped by the Montoneros and recovered only after the payment of a $60m ransom. Concern over the terrorists use of the money was one of the factors that led to the military coup in April 1976.
The families became even more low profile; but in July 1989, Jorge Born, president of the company from 1987 (replacing the "business genius" Mario Hirsch), began working closely with the government of Carlos Menem. Bunge provided the government with its first two economy ministers. This foray into government policy making, however, ended in a new currency crisis that December. This failure upset the other shareholders and compounded by the company's lackluster business performance, this crisis resulted in Born's 1991 ouster from the board; he was replaced by Chief Operations Officer Octavio Caraballo.
Beset by the rift between Jorge Born and his brother, Juan, the prior unity between the shareholders disintegrated as Caraballo struggled to modernize the company. Bizarrely the ousted Jorge Born has started working with one of his former kidnappers, Rodolfo Galimberti.
Bunge International
In 1994 the Bermuda-registered Bunge International was created as the main company in which the families have shares. There are around 180 shareholders - the main families are Hirsch, Bunge, Born, Engels and De La Tour. This replaced the older structure in which individual shareholders had stakes in all the different Bunge companies. Now only in Argentina does the Bunge y Born name still exist.
http://en.wikipedia.org/wiki/Bunge_y_BornBunge Limited NYSE: BG (formerly Bunge International and prior to that Bunge Y Born) is a Bermudan food conglomerate with its headquarters in White Plains, New York. As well as being a leading global soybean exporter it is also involved in food processing, grain trading, and fertilizer. It competes with Cargill and Archer Daniels Midland.
Founded in 1818 by Johann Peter Gotlieb Bunge in Amsterdam, it was relocated to Antwerp by Edouard Bounge in 1859. Edouard's brother; Ernest Bunge, took the Bunge name to Argentina in 1884, and in 1905 the business extended to Brazil and later on to the USA.
In 2001, Bunge went public. Through their three businesses - agribusiness, fertilizer and food products - they have established a leading global presence in the farm-to-consumer food chain. Bunge is the world's largest oilseed processor, the world's number one seller of bottled vegetable oil to consumers and the largest producer and supplier of fertilizers to farmers in South America.
Bunge is a leading agribusiness and food company with integrated operations that circle the globe, stretching from the farm field to the retail shelf.
http://en.wikipedia.org/wiki/Bunge_Limited
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