Marfrig continues to increase BRF share ownership

With the latest transaction, Marfrig Global Foods now owns more than 45% of BRF.

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Benjamin Ruiz

Marfrig Global Foods recently disclosed that it acquired additional shares of BRF, giving it a 45.0067% stake in the company.

According to an announcement to the market that can be found on the BRF investor relations webpage, Marfrig now holds 757,225,906 million shares of BRF stock. The announcement stated that the intent of the acquisition was to increase Marfrig’s shareholding in BRF, but that Marfrig does not aim to change the administrative structure of BRF.

The announcement was dated October 16 and signed by BRF Chief Financial and Investor Relations Officer Fabio Luis Mendes Mariano.

The recent purchase of shares comes less than one month after it was announced that Marfrig had purchased more BRF shares. At the time, that transaction upped Marfrig’s ownership of BRF to a 40.0529% stake.

Both companies are headquartered in Brazil, but both have international operations.

Marfrig’s continued investment in BRF follows comments made in April by Marcos Antonio Molina dos Santos, who serves as chairman of both companies, revealed that a merger between the two companies, which he referred to as “sister companies,” could happen, but not in the near future.

At the time, the chairman said, “Both companies have a lot of synergies, but, at the moment, each one is focused on its business. But now, the most important thing is not taking the focus away from each company. This year, each one will keep focused on its operations.”

Marfrig and BRF began merger talks in 2019, but both parties disclosed about two months later that it was no longer under discussion.

However, Marfrig began to invest in BRF in 2021, purchasing what was at the time 24.23% of the company's shares. It has steadily increased its stake in BRF ever since.

BRF, according to information from the Top Poultry Companies Survey, is the world’s third largest poultry producer and is also a significant player in the pork industry. Marfrig’s primary protein is beef, although it previously also had a presence in the poultry industry as the parent company to Moy Park and Keystone Foods. Marfrig divested of both companies, with Moy Park now owned by Pilgrim’s Pride and Keystone Foods now owned by Tyson Foods.

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