Brazil's BRF buys into Malaysian firm FFM Further Processing
BRF invests in Malaysian processor
BRF, the Brazil-based meat processor, today (9 September) announced it had acquired 70% of Malaysian food business FFM Further Processing.
Under the terms of the deal, BRF will invest US$16m in FFM Further Processing, which is a subsidiary of FFM Berhad, itself part of Malaysian conglomerate PPB Group. FFM Berhad will hold the remaining 30% of the business.
"This transaction is in line with the BRF's strategy to enhance its presence in south-east Asia and its continued commitment to strengthen its focus in Muslim markets," José Alexandre Carneiro Borges, BRF's chief financial and investor relations officer, said.
Earlier this year, BRF opened an office in Kuala Lumpur, the Malaysian capital, to focus on growing in halal markets. Two months later, the company revealed plans to establish a subsidiary that will focus on providing halal meat to Muslim consumers. The new unit will be called Sadia Halal, the company revealed. It will hold the group's assets related to the production distribution and sale of halal products for Muslim markets.
The company is the result of the merger of Perdigão Agroindustrial and Sadia on 8 July 2009. It is a publicly owned food company which focuses on the production and sale of poultry, pork, beef cuts an...
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