BRF acquiring Argentina pork company Campo Austal
Transaction marks company’s entry into the Argentine pork market
BRF has entered agreements to acquire the shares of Campo Austal, a pork company based in Argentina.
The company, formerly known as Brasil Foods, will acquire the shares of Campo Austal from Eclipse Holding Cooperatief UA, a Dutch entity that controls Campo Austal.
The transaction marks the company's entry into the Argentine market of pork, positioning it as the second largest local player in this segment.
In addition to physical assets, two factories, the operation involves recognized brands, a fact that will ensure the company relevant in the categories of cooked ham, salami, mortadella and pork cuts. The acquisition also reinforces the presence of BRF in Argentina, the country where the company operates six other plants.
"The transaction is in line with the strategic plan to globalize the BRF, accessing local markets, strengthening the company's brands, distributing and expanding its product portfolio around the world," said Alexandre Borges, chief financial officer and investor relations investors BRF.
The news of the acquisition comes just days after BRF entered an agreement to purchase all of the assets of Brazilian pork producer Globosuínos Agropecuária S.A. Assets to be included in that transaction include a piglet production facility and 7,500 sows. That transaction is subject to approval by Brazil’s Administrative Council for Economic Defense.