AD Ports Jumps Into Brazilian Ag Market with Largest-Ever M&A Transaction

Why It Matters

The acquisition positions AD Ports as a leading independent agri‑bulk terminal operator in South America, unlocking growth in a high‑demand commodity market and diversifying its worldwide port assets.

Key Takeaways

• AD Ports pays $835 million for CLI, its biggest deal yet
• CLI operates terminals at Itaqui and Santos, handling 17 Mt annually
• Deal adds South American presence to AD Ports' 34‑port portfolio
• CLI generated $178 million revenue and $98 million EBITDA in 2025
• CEO retains CLI leadership, ensuring operational continuity

Pulse Analysis

AD Ports Group has accelerated its global expansion strategy by moving into Brazil, the world’s seventh‑largest agricultural exporter. The $835 million purchase of CLI marks the emirate‑based conglomerate’s first direct entry into Latin America, complementing its existing footprint of 34 ports across Europe, Asia, and the Middle East. By securing terminals at the strategic Port of Itaqui in the Northern Arch and the bustling Port of Santos, AD Ports gains access to two of Brazil’s most vital export corridors, enhancing its ability to serve multinational grain traders and food processors.

CLI’s assets are already proven performers. In 2025 the combined terminals handled 17 million tonnes of soy, corn, and sugar, delivering $178 million in revenue and an EBITDA margin of roughly 55 percent. The strong cash flow and operational resilience make CLI an attractive platform for further investment, especially as Brazil ramps up production to meet rising global demand for sustainable protein sources. Retaining CLI’s senior management, including CEO Gabriel Motta, ensures continuity and leverages local expertise, which is critical for navigating Brazil’s regulatory environment and port congestion challenges.

The transaction also signals a broader shift in the agri‑bulk logistics landscape, where integrated port operators are consolidating to offer end‑to‑end services. AD Ports can now bundle its existing terminal capabilities in Spain, Kazakhstan, and the Middle East with the new Brazilian assets, creating a trans‑continental network that streamlines cargo handling, storage, and onward transportation. This synergy is likely to attract new shipping contracts, boost freight volumes, and position AD Ports as a preferred partner for agribusinesses seeking reliable, multi‑regional supply‑chain solutions.