Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresud SACIF y A.) (NASDAQ: CRESY) was founded in 1936 and is headquartered in Buenos Aires, Argentina. It is an agricultural company in Brazil and other Latin American countries Produce basic agricultural products.
CRESUD is an Argentine company with more than 80 years of leadership in agribusiness. CRESUD produces high-quality products that add value to the agricultural production chain in Argentina, and through investments in Brazil, Paraguay, and Bolivia, its business in the region continues to grow.
The origin of CRESUD can be traced back to 1936, when CRESUD was established to manage the real estate of the Belgian company Credit Foncier, which is dedicated to urban and rural loans in Argentina. Later CRESUD was disbanded, and between the 1960s and 1970s, the company shifted its activities to focus exclusively on agricultural activities.
In 2005, CRESUD created Brasilagro to replicate the company’s business model in Brazil. Since May 2006, Brasilagro ‘s stock has been listed on the Novo Mercado of the Brazilian Stock Exchange (BOVESPA) under the stock code AGRO3. Since November 2012, the secondary code of Brasilagro’s stock on the New York Stock Exchange has been LND.
As of June 30, 2019, CRESUD held a 43.3% equity interest in Brasilagro’s share capital and consolidated it into the company’s financial statements. In 2008 and 2009, CRESUD maintained its regional expansion process by acquiring farms in Bolivia and Paraguay, thereby diversifying its product portfolio and replicating its business model in these countries.
Currently, CRESUD is one of the leading agricultural companies in the region and the only company in the industry listed on the Buenos Aires Stock Exchange (BYMA: CRES) and NASDAQ (NASDAQ: CRESY), and Have complete transparency and responsibility.
Currently, CRESUD operates through two divisions: Agricultural Business, Urban Properties and Investment Business.
- Agricultural Business-engaged in the cultivation, harvest and sale of crops such as wheat, corn, soybeans, cotton, sunflower and sugar cane; sale of grain derivatives, including flour and oil; cattle breeding, purchase and fattening for sale to meat processors And local livestock auction markets; provide agricultural services; lease farms to third parties; disposal and development of cultivated land; and feedlots and slaughter and processing activities.
- Urban Properties and Investment Business——Leasing, leasing and providing commercial and other premises serving shopping centers; leasing offices and other leased spaces; developing, maintaining and selling undeveloped land and/or transaction properties; operating hotels; and providing consumption Financial services and entertainment activities. The department also operates residential properties and supermarkets; and provides mobile communications, fixed telephones, international calls, Internet connections and TV services, and is engaged in technology development, tourism, oil and gas, and electronic businesses.