Brasil Foods buys stake in Argentine poultry firms
Brasil Foods, the world's largest poultry exporter, has bought the controlling stake of Argentina's Danica group in partnership with local poultry producer Avex.
BRF also said it had acquired a share in Avex, one of Argentina's largest poultry producers and exporters. In a partnership with this company, BRF then bought the controlling stake in food group Danica.
The aim of the group is to create a leading food company that can supply the Argentine market and export valued added farming products to the world.
With investment of both acquisitions and Argentina’s increased distribution capacity, the total disbursement will be of more than ARS 650 million (about US$ 150 million). The investment plan foresees increasing Avex’s production capacity and expanding Dánica’s production. The aim is to expand both companies’ presence in the local market, as well as increasing its export potential. In order to achieve those goals, plans are underway to improve the distribution capacity.
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