Kraft and Perdigao deny any acquisition

07-12-2007 | |

It has been reported that global food giant Kraft Foods and one of the largest food companies in Latin America, Perdigao SA, have both denied a report stating that Kraft is in talks to acquire the Brazilian company.

In a statement, Kraft said: “We don’t typically comment on market rumours, but since these reports come at the same time as the announcement that Kraft intends to access the debt capital markets, we can confirm that we are not in talks to buy Brazilian food maker Perdigao SA.”
Rumours began about three days ago, after a local Brazilian newspaper Valor Economico stated that the two companies were holding “amicable” talks.
Perdigao management, in a statement filed with the Brazilian Securities and Exchange Commission, denied there had been talks with Kraft. It said it had been “surprised” by the Valor Economico report and it wasn’t aware of talks over any bid.
Perdigao is currently one of the largest food companies in Latin America, with estimated gross revenues of 7.2 bln Reals (€2.75 bln). Its core business is refrigerated and frozen products, with production focused on poultry and hog slaughter, the processing of poultry and hog derivatives.
Kraft sells meat products as well as products containing meat, but is better known for ready meals and processed foods.
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