BRF, a Brazil-based meat, poultry and food company, has finalized the acquisition of the U.K. business Universal Meats.
BRF first announced its intent to purchase the business on December 1, 2015. At the time, BRF revealed the two companies had signed a memorandum of understanding and BRF was offering GBP34 million (US$50.8 million) for Universal Meats.
Universal Meats is a food distributor in the U.K., focused on food service.
BRF stated on its website that the acquisition is in line with the company’s strategic plan of globalization by means of reaching local markets, strengthening BRF’s brands and expanding its product portfolio globally.
BRF, formerly known as Brasil Foods, has also recently revealed agreements to purchase businesses in Argentina, Qatar and Thailand.