Brasil Foods S.A. announced on January 16 it has finalized the acquisition through its subsidiary in Austria, a 49 percent share equity stake of Federal Foods Limited, a privately held company headquartered in Abu Dhabi, in the United Arab Emirates.
Brasil Foods announced the conclusion of this business at a final amount of USD 37.1 million. The company previously announced on October 4, 2012, that it had signed a binding offer for the acquisition. Austria Brasil Foods will have powers of decision in accordance with the shareholders' agreement now in place and will consolidate the Financial Statements of Federal Foods.
This acquisition is in line with the company's strategic plan to become more international by accessing local markets through processing and distribution, strengthening the Brasil Foods brands and expanding the product portfolio in the Middle East.
Compliance guidelines for training poultry establishment carcass sorters will be subject to comment period that will last until October 21
Modernization of Poultry Slaughter Inspection rule becomes effective October 20
Associates at Perdue operation complete 1 million hours without a lost-time incident
Authorities will be able force change on farms where antibiotic use is above average
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