Brasil Foods has acquired one-third of the minority interest of Avex, and in doing so, acquired the remaining shares in the companies Flora Danica, Flora San Luis and GB Dan (Grupo Danica), all headquartered in Argentina.
The transaction will be completed by the end of the first quarter of 2013, under the terms of the agreement executed between the parties, and foresees a $40.5 million investment.
This transaction will allow Brasil Foods to integrate its business in Argentina, including the operations of Quickfoods, which was acquired in July 2012. It is also expected to help the company's synergies for integrated business.
