Professional
Added to YB: 2026-03-27
Pitch date: 2026-03-25
BG [bearish]
Bunge Global SA
+0.94%
current return
Author Info
Spruce Point Capital Management is an activist investment manager specializing in forensic short-selling. Sign up for the newsletter.
Company Info
Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Soybean Processing and Refining, Softseed Processing and Refining, Other Oilseeds Processing and Refining, and Grain Merchandising and Milling.
Market Cap
$24.5B
Pitch Price
$126.12
Price Target
24.50 (-80%)
Dividend
2.28%
EV/EBITDA
10.63
P/E
33.22
EV/Sales
0.50
Sector
Food Products
Category
N/A
Spruce Point Capital Management Issues 'Strong Sell' Research Opinion On Bunge Global SA (NYSE: BG)
BG (short): Non-economic agribusiness roll-up w/ $1.6B capital deficit after capex/investments, making $4.7B dividends + $3.9B buybacks debt-financed. Core oilseeds biz pressured by GLP-1 drugs, excess capacity, COFCO expansion. $10.6B Viterra deal wildly missed: pro forma 2025 EBITDA -24% vs projections, Viterra rev -16.7% vs peers +6.3%. Leverage 5.7x (not 1.9x promoted). 55-80% downside to $24.50-$55.85.
Read full article (9 min)