Updated: South America’s Leading Agricultural Investment Companies 2026

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With agricultural commodity prices remaining strong and global focus on food security and sustainable farming growing, South America continues to attract substantial international investment in farmland and agribusiness operations. The region has experienced significant developments over the past few years, with new players entering the market and existing companies undergoing major transformations.

In 2025, global farmland investment funds are projected to reach $60 billion, up from $40 billion in 2020. South America remains a top destination for these investments, driven by its competitive advantages in permanent crops, counter-seasonal production for Northern Hemisphere markets, and vast undeveloped agricultural potential.

Major Corporate Farm Groups – Updated Rankings

1. El Tejar

The world’s largest farm company maintains its position with around 2.75 million acres of soybeans, corn and cotton primarily in Argentina, Brazil and Uruguay. The company continues its asset-light model, owning just 20% of its farmland while renting the rest, and outsourcing all machinery and farm labour. Backed by London-based hedge fund Altima Partners (40% stake) and private equity firm Capital Group (13%).

2. Adecoagro – Major Ownership Change

Significant Update: Adecoagro has undergone a major transformation in 2025, with Tether Investments acquiring a 70% controlling stake for approximately $615 million. Previously backed by billionaire George Soros, the company now operates under Tether’s strategic vision for sustainable agriculture and renewable energy.

The company currently manages 210,400 hectares (520,000 acres) across Argentina, Brazil and Uruguay, producing over 2.8 million tons of agricultural products annually and generating over 1 million MWh of renewable electricity. Adecoagro produces grains, rice, oilseeds, dairy products, sugar, ethanol, coffee, cotton and beef, with Juan Sartori serving as the newly appointed Chairman of the Board.

3. Cresud

Remains the only farm company listed on both the Buenos Aires stock exchange and the Nasdaq. Cresud controls around 1.6 million acres of land, mostly owned, with 150,000 acres in crops and 575,000 acres in pasture. The company maintains its strategy of acquiring and developing farmland for future sale and holds a 35% stake in Brasilagro.

Cresud’s diversified business model has provided stability. The cattle operations generated a profit of ARS 8,545 million, benefiting from strong beef prices and favourable input-output ratios. Additionally, the company’s urban properties business through IRSA contributed significantly, with adjusted EBITDA of ARS 209,729 million.

4. Los Grobo

A major leasing company in 2024 effectively went bankrupt due to several adverse events. Los Grobo Agropecuaria and its subsidiary Agrofina defaulted on their debt obligations in December 2024, unable to pay approximately US$400 million in combined debt. The companies informed Argentina’s National Securities Commission that they could not meet their payment deadlines due to a lack of market liquidity and adverse economic factors. Los Grobo accumulated claims for non-payment of debts totalling around US$300 million, according to local reports.

5. Tiba Agro

Maintains its position with around 800,000 acres, mostly in the Brazilian Cerrado frontier region. The company focuses on land acquisition and profitable resale. The company was funded with US$300 million raised from private equity funds, with American and European investors holding a 45% stake. The ownership structure included Vision Brazil Investments (25%), international investors (45%), and Brazilian agricultural producers, including the Francioni brothers from Bahia and the Golin group from the Centre-West region (30%).

6. SLC Agrícola

The first Brazilian farm company to list on the local stock exchange (2007) continues to own and farm around 575,000 acres in Brazil, focusing on soybeans, cotton, and corn. SLC Agrícola has shown strong financial performance in 2025. The company reported impressive Q1 2025 results with net profit of R$511 million, representing a 123.1% year-over-year increase. Revenue jumped 19.1% to R$2.33 billion, driven by expanded soybean cultivation and productivity recovery.

7. MSU

MSU is one of Argentina’s largest agricultural companies, founded in 1860 and currently controlled by the Santos Uribelarrea family. The company farms approximately 165,000 hectares on owned and leased land in Argentina and produces around 800,000 tonnes annually, ranking among the top five agricultural firms in the country. MSU Agro in Argentina is experiencing significant financial difficulties, as confirmed by recent credit downgrades and deteriorating financial metrics.

New Major Players in 2025

Tether Investments

New Major Force: Beyond its Adecoagro acquisition, Tether Investments operates with a $3 billion fund targeting diverse opportunities across sectors. The cryptocurrency company views agricultural land as a “safe haven” asset, complementing its bitcoin and gold holdings. CEO Paolo Ardoino stated their investment “aligns with Tether’s broader strategy to back infrastructure, technology, and businesses that advance economic freedom and resilience”.

Toesca Asset Management & Astarte Capital Partners

$350 Million Regenerative Agriculture Fund: These Chilean and international firms launched a major investment platform in late 2024, focusing on permanent crops grown with regenerative, sustainable practices. The fund targets Chile’s competitive advantages in fruit production and strategic expansion into Peru and other Latin American markets. Initial investments began in early 2025.

The Land Group

Originally based in Uruguay, this real estate and asset management firm is expanding its regenerative agriculture model to Brazil in 2025. The company focuses on sustainable farming practices and carbon sequestration opportunities.

The Land Group currently manages USD 140 million worth of farmland assets across 40,000 hectares in Uruguay and Paraguay. After operating quietly since 2016, the company formally launched in October 2024, signalling confidence in its business model and readiness for scaled expansion. Their estimated annual revenue is approximately $5 million, though this figure is from 2022 and likely understates current performance given their recent expansion.

Expansion and Investment Activity

The company is demonstrating strong financial health through active expansion efforts. In March 2025, The Land Group announced expansion into Brazil, capitalising on the country’s substantial institutional investor base and agricultural market. They have concrete plans for global expansion beyond South America starting in 2025, indicating robust capital availability and investor confidence.

Institutional Backing and Management Quality

The Land Group works with sophisticated institutional investors and family offices, providing uncorrelated returns through regenerative agriculture. The company’s founders bring substantial financial credentials – Francisco Roque de Pinho is a former Rothschild banker with an MBA from INSEAD, while co-founder Joaquin Labella is a CFA charterholder with extensive asset management experience. Their approach focuses on long-term value creation rather than short-term commodity speculation

Leading AgTech Investors

The region now hosts sophisticated agricultural technology investors, with The Yield Lab LATAM leading with 34 investments, followed by SP Ventures (33 investments) in Latin American agriculture startups. Other major players include KPTL, Bossa Invest, and Barn Investments, reflecting the growing integration of technology in South American agriculture.

Regenerative Agriculture Focus

Over 60% of agricultural investments in 2025 are targeting climate-smart technologies and sustainable farming practices. This shift reflects growing institutional interest in environmental, social, and governance (ESG) compliant agricultural investments.

Continuing Players with Updated Context

Calyx Agro Ltd. is a significant agricultural land investment company that serves as Louis Dreyfus Commodities’ primary vehicle for farmland acquisition and development across Latin America. Founded in 2007 as part of the global commodities trading giant’s expansion into direct agricultural production, the company represents one of the more established foreign investment entities in South American agriculture.

Company Structure and Leadership

Calyx Agro was established in Argentina by Louis Dreyfus Commodities (LDC) in 2007, specifically as a vehicle for the acquisition of farmland in southern Latin America. Louis Dreyfus, one of the four “ABCD” companies that dominate global agricultural commodity trading alongside Archer Daniels Midland, Bunge, and Cargill, controls approximately 10% of global agricultural product trade flows.

Current Leadership

The company is currently commanded by Axel Matías Hinsch (formerly of Renessen), who serves as CEO. Ciro Echesortu, who was designated as president when the company formed its subsidiaries Calyx Tierras SA and Calyx Siembras SA in late 2007, now serves on the global board. Kenneth Carson Geld previously held the position of Chairman.

Investment Partners

Beyond Louis Dreyfus Commodities as the founding sponsor, Calyx Agro’s investor base includes:

• AIG Investments (leading the investor group)
• Pine Bridge Latam Partners
• TRG Management
• Worldstar Ltd.
• Various private equity and family-sponsored investment funds

Geographic Operations and Holdings

Calyx Agro operates across four South American countries: Argentina, Brazil, Paraguay, and Uruguay, focusing on regions with the greatest agricultural expansion potential.

Specific Properties and Acreage

According to detailed records, the company’s owned properties include:

Argentina:

• La Esmeralda (Pehuajó): 1,082 hectares
• La Dolores (Villa Cañás): 3,365 hectares
• El Charabón (Ceres): 4,638 hectares

Brazil: Three farms totalling over 27,000 hectares

Uruguay: 2,600 hectares

Paraguay: 2,900 hectares

Leased Operations

In addition to owned land, Calyx Agro leases variable amounts of land for agricultural production. In the 2011/12 season, they farmed 100,000 hectares, which was reduced to 70,000 hectares in subsequent seasons, primarily in Argentina and Uruguay.

The company’s objective is to channel capital toward agricultural business in one of the few regions of the world with the capacity to expand production. According to CEO Hinsch’s presentation at the World Agriculture Investment Conference in London (2010), Argentina’s low production costs constitute an “insurmountable competitive advantage”.

Cost Competitiveness

Historical data showed Argentina’s significant cost advantages, with soybean direct costs at $200 per acre compared to $350 in Uruguay, $500 in Paraguay, and $650 in Brazil. Hinsch notably stated: “If Brazil is profitable, Argentina is even more profitable”.

Capital Structure

The company has shown strong capital injections from sponsors, with capital social evolution demonstrating significant increases in funds. By 2012, Calyx Siembra’s capital had risen to $59.46 million, while Calyx Tierra’s capital had reached $63.54 million.

Strategic Position in Latin American Agriculture

Calyx Agro operates within the select group of principal land-holding and leasing companies in South America, alongside Adecoagro, Liag, MSU (Santos Uribelarrea), El Tejar, ZET Agro, and Cresud. The company’s Louis Dreyfus backing provides unique advantages through vertical integration with one of the world’s largest commodity trading operations.

Current Status (2025)

While Calyx Agro continues operations with its established land portfolio, the company has maintained a relatively stable footprint compared to competitors’ more aggressive expansion. The regulatory environment in Argentina and the changing investment climate have influenced the company’s growth strategy, leading to more cautious expansion compared to its initial ambitious plans.

The company represents a mature example of how major commodity trading houses like Louis Dreyfus have sought to integrate upstream into agricultural production, though regulatory and political challenges have moderated some of the initial expansion ambitions that characterised the company’s early years.

Agrifirma

Agrifirma Brasil Agropecuária is a modern farmland operating and development company co-founded in 2008 by Ian Watson and Jim Slater, following their successful venture with Galahad Gold. The company was established as a strategic pivot from precious metals investments to Brazilian agricultural land, capitalising on the global commodities boom and growing food demand.

Geographic Focus and Operations

Agrifirma concentrated its operations exclusively in western Bahia, Brazil, acquiring approximately 175,000 acres (70,800 hectares) in the region. The company specifically targeted the Matopiba region – an acronym for the states of Maranhão, Tocantins, Piauí, and Bahia – which represented Brazil’s agricultural frontier.

Strategic Location

Western Bahia was chosen for its:

• Undeveloped agricultural potential in Brazil’s Cerrado biome.
• Lower land acquisition costs compared to established farming regions
• Infrastructure development opportunities

The company invested heavily in infrastructure, including building a 23-kilometre power line at a cost of 460,000 reais to connect one farm to the national electrical grid.

In a significant corporate transformation, Brasilagro signed a merger agreement with Agrifirma in November 2019. Under this agreement,

• Brasilagro acquired 100% of Agrifirma Agropecuária’s voting share capital
• Agrifirma shareholders received 5,215,385 new common shares in Brasilagro
• The transaction valued Agrifirma’s 28,930 hectares in western Bahia
• Brasilagro’s share capital increased by R$115.6 million

Drought Impact and Regional Retreat

Recent years have brought significant challenges to Agrifirma’s western Bahia operations:

• The company is leading a retreat from drought-affected areas in the Matopiba region
• Switching to drought-tolerant crops, including sorghum and feed grasses, instead of soybeans
• Director Mariana Duarte noted: “You can’t survive in the region without having at least part of the crop under irrigation”.

Regional Agricultural Trends

Western Bahia and the broader Matopiba region continue to face challenges:

• Major companies are reducing exposure to the drought-prone areas
• SLC Agrícola is decreasing its northeastern operations by 8,000 hectares.
• Vanguarda Agro is completely exiting the Matopiba region as of 2025.

Competitive Landscape

Within Brazil’s agricultural sector, Agrifirma’s current operations represent a smaller scale compared to major players like:

• SLC Agrícola: 575,000 acres (publicly listed)
• Adecoagro: 520,000 acres (now 70% owned by Tether)
• Tiba Agro: 800,000 acres in the Cerrado region

Investment Significance

Agrifirma’s evolution reflects broader trends in South American agricultural investment:

• Transition from speculative to operational focus
• Importance of climate adaptation strategies
• Consolidation within the agricultural sector
• Infrastructure development as a competitive advantage

The company’s experience in western Bahia serves as a case study for the challenges and opportunities in Brazil’s agricultural frontier regions, particularly regarding climate resilience and sustainable development practices in the face of increasing weather volatility.

Radar (Cosan)

Cosan S.A. is a major Brazilian holding company that operates across three essential sectors: Energy, Oil & Gas, and Agribusiness. The company has established itself as a reference in agricultural property management with a diversified portfolio offering high appreciation potential.

Agricultural Portfolio – Radar Division

Cosan’s agricultural division manages approximately 320,000 hectares (790,000 acres) strategically positioned across 7 Brazilian states. This represents a significant expansion from the previously reported 200,000 acres, indicating substantial growth in their farmland portfolio.

Partnership Structure

Radar operates as a joint venture between Cosan and US pension funds, particularly TIAA-CREF (Teachers Insurance and Annuity Association – College Retirement Equities Fund), providing substantial institutional backing for land acquisitions and development.

Integrated Agribusiness Platform

Cosan’s broader agricultural ecosystem includes:

• Raízen: Joint venture with Shell for ethanol, sugar, and bioenergy production and fuel distribution
• Rumo: Logistics solutions company connecting Brazil’s agricultural regions to ports via railway infrastructure
• Compass Gas: Natural gas distribution for agricultural and industrial applications
• Moove: Lubricants production and distribution with global reach

Logistical Advantages

Through Rumo, Cosan connects Brazil’s main producing regions with the country’s principal ports, offering:

• Railway transportation with a lower carbon footprint
• Competitive logistics costs
• Enhanced market access for agricultural products
• Integration between land ownership and transportation infrastructure

Competitive Advantages

1. Vertical Integration: Unlike pure farmland investors, Cosan benefits from integrated logistics and processing capabilities
2. Scale: 320,000 hectares makes it one of Brazil’s largest agricultural landowners
3. Infrastructure Access: Direct connection to transportation and export facilities
4. Financial Backing: Strong partnership with major US institutional investors

Ingleby Farms

Ingleby Farms & Forests stands out as a regenerative agriculture pioneer with a unique long-term ownership philosophy that sets it apart from many other agricultural investment companies in South America. Ingleby Farms reported concerning results for their 2022/23 financial year, with revenue declining to USD 176 million from USD 188 million the previous year. More troubling, the company swung from a USD 24 million profit in 2021/22 to a USD 27 million loss in 2022/23, representing a dramatic deterioration in profitability. The operational result was particularly poor, showing a USD 11 million loss compared to a USD 24 million profit the year prior.

Geographic Presence

Ingleby Farms operates across 9 countries on 4 continents, making it one of the most geographically diversified agricultural companies in the sector. Their South American operations include significant farms in Peru.

Peru Operations – Table Grape Production

Scale of Operations:

• 7 different varieties of table grapes are cultivated
• 300 workers are employed during the harvest season
• 66 tonnes of table grapes are harvested daily during peak season
• Rigorous quality control with manual inspection and cleaning of each grape bunch.

This production scale indicates substantial acreage and sophisticated agricultural management systems, though specific land holdings in Peru are not disclosed.

Investment Profile

Ingleby Farms represents a different investment thesis compared to other South American agricultural companies:

Traditional Players (El Tejar, Los Grobo): Focus on scale, efficiency, and financial engineering through leasing models

Ingleby Farms: Emphasises regenerative practices, long-term ownership, and sustainable premium production

This positions the company well for ESG-focused institutional investors and impact investment funds that are increasingly targeting sustainable agriculture opportunities in 2025.

The company’s approach aligns with the growing trend of $350 million+ regenerative agriculture funds being deployed in Latin America, though Ingleby Farms appears to be privately held rather than seeking external investment.

Market Outlook 2026

The South American agricultural investment landscape in 2025 is characterised by:

• Increased institutional capital flow from both traditional and non-traditional sources (including cryptocurrency companies)
• Strong focus on sustainability and regenerative agriculture practices
• Technology integration through precision agriculture and mechanisation
• Geographic diversification with southward expansion to mitigate climate risks
• Counter-seasonal export advantages for Northern Hemisphere markets

Contact Gateway to South America for expert guidance on the region’s best agricultural investment opportunities. The company remains the benchmark for foreign investors seeking opportunities in Argentina, Brazil, Uruguay, Chile, Paraguay, and Peru, providing specialised advice on property acquisition and investment tours.

The Gateway Team – When You are Serious About Property
www.gatewaytosouthamerica.co

Geoffrey McRae

The New Zealander has a distinguished career of over 30 years in 7 countries, specializing in South American real estate, agriculture, and commercial matters. As the founder of Gateway to South America, he is known for his discretion, expertise, and experience in representing active clients in the region. His extensive knowledge of the market has positioned him as a leading authority and trusted advisor.