Marfrig announces poultry acquisitions
March 10, 2008
by FoodBusinessNews.net Staff
SAO PAULO, BRAZIL — Marfrig Frigorificos e Comercio de Alimentos S.A. announced agreements to purchase DeGranja Agroindustrial Ltda. for $58 million and the operations in the poultry segment of Moinhos Cruzeiro do Sul S.A. for $53 million.
DaGranja Agroindustrial has a core business in the slaughter, industrialization and sales of poultry and pork, and had net revenue of $600 million Brazilian reais in 2007 with 25,000 customers and exports to more than 25 countries.
The second acquisition includes all equity of Penapaulo Alimentos Ltda and the brand Pena Branca. Penapaulo/Pena Branca is the largest poultry industry in Sao Paulo state with a core business in the creation, production, slaughter and sales of poultry as well as the industrialization, production and export of poultry products. The company posted 2007 net revenue of $330 million Brazilian reais.