Brazil-based beef giant Marfrig has continued its expansion by acquisition with an agreement to buy meat businesses in Brazil and Europe in a deal that could rise to US$900m.
Go deeper with GlobalData
Marfrig, which has bought a pork firm in Brazil and a UK-based distributor in the last four months, said it would pay an initial $680m for the OSI units. The company could stump up a further $220m if the businesses hit performance targets.
Under the deal, Marfrig will buy Northern Ireland-based Moy Park Group, which has production sites in the UK, France and the Netherlands. Moy Park is the largest vertically-integrated poultry firm in the UK.
The agreement will also see Marfrig snap up Brazilian pork and poultry business Penasul Alimentos.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
