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June 6, 2022updated 08 Jun 2022 8:12am

Marfrig Global Foods chairman Marcos Molina named among majority shareholders

Marfrig chairman Marcos Molina also took the same seat at meat peer BRF this year.

By Simon Harvey

Marfrig Global Foods has confirmed its chairman Marcos Molina and his holding company are now the majority owners of the Brazilian meat processor.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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Publicly-listed Marfrig said in a statement it “received correspondence from its controlling shareholders: MMS Participações, Mr. Marcos Antonio Molina dos Santos and Mrs. Marcia Aparecida Pascoal Marçal dos Santos, reporting that together they directly held 345,941,740 common shares, representing a 50.04% share of the total shares issued by the company”.

Both of the named individuals are partners in MMS Participações, a holding company set up in 2006 and based in Sao Paulo. Just Food contacted Marfrig to establish the prior shareholding before the announcement signed off by vice president of finance Tang David, later confirmed by a spokesperson as 49.7%.

“The controlling shareholders have not concluded any agreement or contract regulating the exercise of the right to vote or the purchase and sale of securities issued by the company,” Marfrig added.

In March, Mr. Molina also became chairman of Brazilian meat peer BRF in which Marfrig owns 33.3%, a stake built up in 2021. Marfrig also increased its presence in the US in 2018 with the acquisition of a 51% stake in National Beef Packing Company.

At the time of Molina’s appointment to the BRF board, Marcia Santos was also named among a slate of new BRF directors, including Sergio Agapito Rial; Augusto Marques da Cruz Filho; Debora Stern Vieitas; Flavia Maria Bittencourt; Pedro de Camargo Neto; Altamir Batista Mateus da Silva; Eduardo Augusto Rocha Pocetti; and Aldo Luiz Mendes, backed by Marfrig and shareholder Caixa de Previdência dos Empregos do Banco do Brasil (Previ).

Marfrig reported sales last year of BRL85.3bn (US$17.8bn), adjusted EBITDA of BRL14.5bn and a net profit of BRL4.3bn.

BRF had sales of BRL48.3bn and adjusted EBITDA of BRL5.6bn. Net income was BRL517m.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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