BRF acquiring frozen food distributor in Oman
BRF had previously owned 40 percent of company’s financial interests
Brazilian meat, poultry and food company BRF is continuing to add to its recent string of acquisitions, as the company on April 25 announced that has signed an agreement to acquire all of Al Khan Foodstuff LLC, (AKF), a frozen food distributor located in Oman.
Prior to announcing the planned transaction, BRF owned 40 percent of the AKF’s economic interests.
The cost of the transaction is estimated at US$64 million. In a statement on the BRF website, the company said that the transaction is in line with its strategic plan for globalizing the company, accessing local markets and strengthening BRF brands, distribution and expansion of its product portfolio across the globe.
Other acquisitions announced in 2016
BRF, formerly known as Brasil Foods, has been announcing acquisitions at a rapid pace so far in 2016, further expanding its global presence. In April alone, the company announced its plans to acquire the assets of Argentinian pork company Campo Austal and Brazilian pork company Globosuinos Agropercuaria.
In February, BRF finalized the acquisition of Universal Meats, a food distributor that is headquartered in the U.K. In January, BRF became the owner of part of Qatar National Import and Export Co.’s (QNIE) frozen foods distribution business.