Company acquires slaughter plants from Marfrig for USD 1.53 billion
Brazilian meat processor Minerva Foods has acquired Marfrig's cattle slaughtering and boning facilities for R$7.5 billion, or about $1.53 billion. The transaction includes eleven plants and a distribution center in Brazil, an industrial unit in Argentina and three plants in Uruguay. The company also bought a lamb plant in Chile, which will contribute to its "protein diversification strategy" and will operate "in high value-added niche markets". The acquisition will lead Minerva to become the second beef processor in Brazil.
Following the acquisition, Minerva will have a total of 40 cattle slaughtering and boning plants. These are 21 units located in Brazil, five in Paraguay, six in Argentina, six in Uruguay and two in Colombia. The lamb division will instead have five plants: four in Australia and the new plant in Chile.
The operation will allow Minerva to strengthen its presence in the beef market: in fact, the company is destined to expand its slaughtering and bovine boning capacity to 42,439 heads per day, compared to the current volume of 29,540 heads , an increase of about 44%. The transaction also brings additional benefits, such as logistical synergies, opportunities to expand and enhance distribution, and increased reach for international customers.
"We are very excited about this move, which is in line with our geographical diversification strategy and which uniquely complements our business in South America, which is one of the most competitive markets in the world -explains Fernando Queiroz, CEO of Minerva Foods "This will take our company to another level, give us access to new international customers, maximize business opportunities and operational synergies, reduce risks and expand our ability to compete in the international animal protein market."
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Rome, RM, Italy, 08/31/2023 07:20
EFA News - European Food Agency
photo © https://www.facebook.com/minervafoodsoficial/photos
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