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January 10, 2012 – Minerva Opportunity Fund I, LP an ImpactBase Investment Fund focused on the agriculture and energy sectors in emerging markets announced today its 18.75% equity investment in Target Brazil, a Brazilian company that supplies bovine byproducts to Asian markets.
Brazil is the world’s largest supplier of bovine gallstone and the Company is the best and most reliable global supplier of Brazilian gallstones. Target Brazil, with sales of over US$35 million expected in 2012, boasts a 25-year track record selling ox gallstones and concentrated ox bile, which are used extensively throughout Asia as pharmaceutical raw materials that are essential for the production of a broad range of medicines for the prevention and treatment of obesity, digestive and metabolic problems as well as heart, cardiac and circulatory systems conditions. Top grade quality gallstones sell for over US$30,000 per kilogram.
“Target Brazil is uniquely positioned to serve Asia’s exploding market with its unique products and working together, we are positioned to take full advantage of our collective global network to strengthen and deepen our marketing efforts in the region,” stated Jocelyn Cortez-Young, CEO of Minerva Capital Group. “Being the global leader in supplying gallstones to the Asian market, Target Brazil’s unparalleled supplier network provides the Company with strong pricing power and maintains healthy profit margins to continue fueling our growth and expansion,” she added.
Target Brazil will open a representative office in Asia to extend its marketing capabilities throughout the region. The Company is currently analyzing locations in Shanghai or Hong Kong and expects to have the office launched by the third quarter of 2012.
About Minerva Capital Group
Minerva Capital Group is a double bottom line driven impact investment firm focused on capitalizing companies in the energy and agricultural sectors in emerging markets. The firm focuses on identifying unique middle market investment opportunities in sustainable companies, products and services.