By Roberto Samora

SAO PAULO, Feb 15 (Reuters) - Amaggi, a Brazilian grain processor and exporter, has entered an agreement to acquire a stake in food ingredients company Milhao Ingredients, according to a statement sent to Reuters on Thursday.

The privately owned buyer did not disclose the size of the stake or the value of the deal.

Amaggi, which operates in the production, processing, marketing and transportation of agricultural products, said competing in the food ingredients segment is an opportunity to further diversify sources of income.

Milhao is based in Goias state and serves clients such as Nestle NESN.S, PepsiCo PEP.O, BRF SA BRFS3.SA, Brazilian wheat miller M. Dias Branco, and Heineken HEININ.UL, among others.

"The partnership, through an investment with Milhao Ingredients, is aligned with Amaggi's strategy of growth and diversification of our business," Amaggi's CEO, Judiney Carvalho, said in the statement.

With the move, Amaggi enters a market where global grain merchants such as ADM ADM.N and Cargill have been operating for some time in a bid to obtain margins higher than those recorded in the bulk commodities segment.

The deal must yet be approved by antitrust authority Cade, Amaggi said.

Milhao, which uses non-transgenic corn as a raw material, has a production capacity of 280,000 metric tons of food ingredients per year.

In March, the company plans to open a non-GMO corn oil facility, Amaggi said.

(Reporting by Roberto Samora
Writing by Ana Mano; editing by David Evans)

((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob: +55-119-4470-4529; Reuters Messaging: ana.mano.thomsonreuters.com@reuters.net))