Brazilian meatpacker edges out Tyson to buy poultry processor
Brazilian meatpacker Marfrig has reportedly announced
that it has acquired a controlling stake in Pena Branca, the largest poultry
processor in Sao Paulo.
Meatingplace has reported that Pena Branca has gained notoriety in the US
following reports that Tyson Foods was trying to buy the Brazilian processor.
Though Tyson would not then confirm Pena Branca was its Brazilian acquisition
target, Tyson spokesman Gary Mickelson stated: "Tyson did have interest in
buying Pena Branca, [but] our concerns over some regulatory matters made it
difficult to reach a mutually acceptable agreement."
Mickelson also said that the company remains committed to establishing a
presence in Brazil and that it will continue to explore other opportunities
Marfrig acquired Pena Branca, its first poultry venture, which processes
300,000 head per day at two slaughter facilities, for US$53 mln. The Brazilian
meatpacker also acquired a controlling stake in DaGranja Agroindustrial Ltd., a
poultry and pork processor, for US$58 mln.
Marfrig's purchases are still subject to due diligence activities and
approval by shareholders.
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