Brazilian beef producer Marfrig Global Foods has acquired 24.23 percent of chicken and pork producer BRF in the stock exchange, becoming the company’s top shareholder. According to sources, despite becoming the largest shareholder in BRF, Marfrig plans to be a passive investor only, and the move was made with the aim of diversifying its investments “in a segment which complements the sector where it does business”. Since Marfrig focuses on …
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Brazilian meat firm JBS is set to acquire Moy Park, the British unit of Marfrig Global Foods, for $1.5 billion, according to a report in Business Insider quoting AFP. The purchase is said to further JBS’s plans to expand its presence in the European processed foods market. JBS will pay $1.19 billion in cash as well as assuming Moy Park’s debt of £200 million ($318 million), according to reports. Moy …
Marfrig, Brazil’s third largest food processing company, has announced a net loss of R$ 570.9 million ($188 million) for the first quarter of 2015. Describing the start to the year as “challenging”, the company said that its bottom line had been especially affected by currency fluctuations, although the exchange rate is said to also have helped boost Marfrig’s revenue. The company pointed to difficulties in the bovine division, mainly in …
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