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
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
