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.
Hidden-camera video released by Mercy For Animals Canada prompts Maple Lodge Farms to launch internal investigation
Irish agriculture minister Simon Coveney signs new country of origin labeling rules into law
Purchase of six plants valued at US$128 million
First phase of GNP Company Minnesota expansion valued at $35 million
The falling value of the ruble and growing domestic production have Russia in position to become a net meat exporter
Diversified project will house pigs, laying hens, broilers, sheep and cattle
--- Thank you for your patience ----
If you have any issues logging in or any other need feel free to contact us.