Approach Minerva Foods and Athena Foods
GRI 102-1, GRI 102-2, GRI 102-5, 102-7

Minerva Foods (Minerva S.A.) is a South American leader in the exportation of beef in natura and beef by-products, as well as processed meats. In August of 2018 the Board of Directors by means of a resolution, approved the required contribution necessary, in order to indirectly become a shareholder of the total share capital of Athena Foods S.A. a joint-stock company created in accordance with the regulations of Chile. Athena Foods S.A. has become responsible for the operations and trading of the business units located in Argentina, Colombia, Paraguay and Uruguay and it is responsible for more than 30% of the meat that is consumed in Chile. Athena Foods values the importance of a healthy diet and understands how to meet the most demanding levels of taste and quality demanded by the most sophisticated markets.

Together, Minerva and Athena have become a joint company operating 25 industrial units distributed throughout Brazil, Argentina, Colombia, Paraguay and Uruguay, with a slaughter capacity of 26,380 heads of cattle per day (11,880 by Minerva and 14,500 by Athena) able to meet the needs of millions of its clients. While Minerva is responsible for the operations of 11 plants located throughout Brazil (in seven states – Goiás, Mato Grosso, Mato Grosso do Sul, Minas Gerais, Rondônia, São Paulo and Tocantins), Athena manages the operations of five units in Argentina, one in Colombia, five in Paraguay and three in Uruguay.

The Company exports to more than 100 countries around the world by means of 13 commercial offices and 14 distribution centers, nine of which are operated by Minerva throughout Brazil, and five operated by Athena, of which one is located in Argentina, two in Chile, one in Colombia and one in Paraguay.

In order to manage its business operations, the Company was structured into three major operations:

1. Brazil Industrial Division: Operating out of Brazil, Minerva is responsible for the production of: beef in natura byproducts such as offal, tripe, tallow, bone meal, biodiesel and leather, as well as processed beef products such as specialty cuts and items produced by Minerva Fine Foods, all of which are sold in domestic and export markets.

2. Athena Foods: operating in Argentina, Colombia, Paraguay, and Uruguay, with distribution out of Chile, it is dedicated to the production of beef in natura, byproducts such as offal, tripe, tallow, bone meal, biodiesel and leather, as well as processed beef products such as specialty cuts, and items produced by Swift in Argentina, all of which are sold in domestic and export markets.

3. Trading Division: with extensive productive sources throughout South America and Oceania, expanding beyond bovine protein production into the segments of live cattle trading of protein in export markets, trading of protein and resale of third-party products in the domestic market, as well as power trading in the Brazilian market.

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Sustainability integrates the pillars of the Company, which considers that providing food, preserving the planet and human value are essential concepts. Therefore, Minerva and Athena Foods have taken measures to guarantee a ranch to table sustainable growth model that respects the environment and encourages the development of all stakeholders of their productive chain.

By meeting and following the standards set by the International Financial Corporation (IFC), it is the only company of its sector in Latin America, to have received funding from IFC for its sustainable practices and for generating value along its productive chain.

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