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March 9, 2020

Brazilian meatpacker Prima Foods ‘heading for IPO’

Brazilian meatpacking business Prima Foods is planning to change its ownership structure, according to reports.

By Leonie Barrie

Prima Foods is set to be the latest Brazilian meatpacking business to go public, according to reports.

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News agency Reuters has reported that Prima has requested registration for an initial public offering (IPO) with the Brazilian Securities and Exchange Commission (CVM).

Reuters quotes sources suggesting the IPO would be expected to reach roughly BRL1bn (US$216m).

It would be following in the footsteps of local peers such as JBS, BRF and Minerva if its goes through with the IPO.

Prima Foods is controlled by businessman José Batista Junior, the older brother of Wesley and Joesley Batista, who controlling shareholders of JBS, the Brazilian meat giant and one of the world’s largest players in the sector.

Reports in the Brazilian media suggest Prima Foods’ offer will be secondary – the sale of its own shares.

The company has a slaughtering capacity of 2,600 head of cattle per day in the states of Minas Gerais, Goiás and Mato Grosso do Sul.

It recorded revenue of BRL2bn in 2019 and a net profit of BRL241.2m.

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img

How is technology having an impact on Consumer buying behavior?

As the world rapidly becomes more connected, it is important for brands to understand the impact that improved technology is having on consumer purchasing behaviors. To react effectively, brands must know how to engage with increasingly digitally savvy consumers. GlobalData’s latest Trend Tracker report provides an analysis of Digital Lifestyles – one of GlobalData's top consumer trends for 2022. The report includes an overview of how digital lifestyles are evolving, including the significant impact that the COVID-19 pandemic had on accelerating digitalization, and how this trend is emerging across different Consumer sectors. Key features included in the report:
  • A breakdown of the trend’s prominence across sectors
  • Insights into consumer online penetration, preferred electronic devices and engagement
  • The key drivers and challenges impacting the digital lifestyles trend
  • A spotlight on key innovations set to reshape the consumer landscape
  • Analysis of what’s next for digital innovations and how brands can leverage the trend
Download this report to keep in touch with the more digital consumer.
by GlobalData
Enter your details here to receive your free Report.

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