BRF, a Brazil-based meat, poultry and food company, has announced expansion moves in Argentina, Thailand and the United Kingdom.
“This is a milestone in the company's history, a clear message that our expansion project is serious and consistent,” said BRF’s Global CEO, Pedro Faria, in response to the announcement about the company’s latest acquisitions.
BRF says the transactions are in accordance with its strategic plan of globalization, accessing local markets, strengthening BRF’s brands, distribution and expansion of its product portfolio around the world.
In Argentina, BRF has signed a binding offer with Pampa Agribusiness Fund L.P. and Pampa Agribusiness Follow-on Fund L.P for the acquisition of Eclipse Holding Cooperatief UA, a Dutch company that controls Campo Austral. Campo Austral is a group of companies with fully integrated business operations in the pig meat sector, including the cold cuts market. The business is valued at US$85 million.
“We will strengthen our business in the categoriesof cooked ham, salami,bologna andpork cuts,” Faria said.
BRF has reached an agreement over the purchase of all shares for Golden Foods Siam of Thailand. The deal – valuing the company at US$360 million, includes Golden Foods’ assets in Europe as well as Thailand. Golden Foods Siam is one of the leading poultry producers in Thailand and it has fully integrated operations in 15 markets across the world.
In the United Kingdom, BRF has signed a binding memorandum of understanding (MOU) with the shareholders of Universal Meats (UK) Ltd, which will lead to its acquisition of the entire issued share capital of Universal. Universal is a food distributor in the UK, focused on food service. Assuming the conditions in the MOU are met, BRF will acquire Universal for UK£34 million (around US$50.8 million).
As recently as October, BRF, formerly Brasil Foods, reached agreement over the acquisition of other businesses in Argentina, Qatar and the U.K.