BRF buying Brazil pork company Globosuínos
Acquisition is subject to approval by Brazil’s Administrative Council for Economic Defense
BRF has entered into an agreement to purchase all of the assets of Brazilian pork producer Globosuínos Agropecuária S.A.
According to an announcement from BRF, a Brazil-based meat, poultry and food company, Globosuínos assets to be acquired in the proposed transaction include a piglet production facility and 7,500 sows. Those assets are located in the Brazilian city of Toledo, in the state of Parana, where BRF also operates one of its biggest pig processing plants.
The proposed acquisition is valued at BRL20.2 million (US$5.7 million), and is subject to approval by Brazil’s Administrative Council for Economic Defense (CADE).
BRF, in a statement, said the planned acquisition of Globosuínos shall not lead to withdrawal rights, due to the fact that its shares have liquidity and are dispersed.
BRF has been busy with acquisitions
The Brazilian company in recent months has been actively pursuing acquisitions to diversify while expanding its product offerings and international presence. The company has signed agreements in which it would acquire U.K. food distributor Universal Meats, a portion of Qatar National Import and Export Co.’s frozen foods distribution business, and Golden Foods Siam.
BRF, formerly known as Brasil Foods, has also finalized the purchase of the Argentinian brands Vieníssima, GoodMark, Manty, Delícia, Hamond, TresCruces and Wilson.