Brazilian meat, poultry and food company BRF has finalized its acquisition of the Vieníssima, GoodMark, Manty, Delícia, Hamond, TresCruces and Wilson brands, the company announced on October 16. The transaction is valued at US$43.5 million.
All of the recently acquired brands are known in Argentina. The acquisition was carried out through BRF subsidiaries Quickfood S.A. and Avex S.A., both of which are also headquartered in Argentina.
With the acquisition, the company also expands its presence in the sausage, hamburger and margarine business.
In making the announcement of the 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.
Other recent BRF growth initiatives
BRF, formerly known as Brasil Foods, has been actively involved in growth projects that expand its global presence. The company earlier in October announced that it had entered a memorandum of understanding with Qatar National Import and Export Co. (QNIE) for the acquisition of a part of QNIE’s frozen distribution business.
In April, BRF 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.