Brasil Foods is to take control of two Argentinian firms, poultry supplier Apex and margarine and sauces maker Grupo Dánica.
The Brazilian food giant said yesterday (3 October) that it would pay a total of US$150m for the two acquisitions.
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Brasil Foods will attain “corporate control” of Apex, which will then mean it acquires Dánica. The company will own two-thirds of both companies with the remaining shares held by local investors.
CFO Leopoldo Saboya said the acquisitions would “strengthen Brasil Foods’ brands in the Mercosur region, with [the] expansion of [our] portfolio of products, access to local markets and expansion of [our] export platform”.
Avex is located in Rio Cuarto, Córdoba, and produces whole, cut, chilled and frozen chicken. In 2010 it had revenues of US$66.8m, with 70% of sales in the domestic market. It has 494 employees and is the sixth-largest player in the domestic poultry market, with a market share of 4%.
Brasil Foods exports processed and fresh products to distributors in Argentina, mainly under the Sadia brand.
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