Brazilian meat, poultry and food company BRF has plans to expand its presence in Argentina with the proposed acquisition of the Vieníssima, GoodMark, Manty, Delícia, Hamond, Tres Cruces and Wilson brands.
With the acquisition, the company also expands its presence in the sausage, hamburger and margarine business.
The transaction is valued at US$43.5 million and is being carried out by BRF subsidiaries Quickfood S.A. and Avex S.A., both of which are headquartered in Argentina.
The transaction is subject to the fulfillment of certain conditions precedent by the parties, as well as an eventual approval by the competent administrative authorities.
In making the announcement of the planned acquisitions, BRF stated that the transaction is in line with BRF’s strategic plan of globalizing the company by means of reaching local markets, strengthening BRF‘s brands and distributing and expanding its product portfolio around the globe.
BRF, formerly known as Brasil Foods, has been actively involved in growth projects that expand its global presence. In April, the company formed a joint venture with the U.K.’s Invicta Food Group with the main objective to distribute processed food in the U.K., Ireland and the Nordic countries of Norway, Sweden, Finland, Iceland and Denmark. Also, in June, BRF finalized the formation of a joint venture company with Singapore Food Industries, known as SATS BRF Food, to create a food distribution and meat processing business that offers branded products initially for the Singapore market and later also for other parts of Southeast Asia.