The board of Philippines food and drinks manufacturer RFM has approved the acquisition of the meat processing business of its Swift Foods unit.
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The acquisition deal, which still requires the approval of Swift’s board, will cover all assets of the meat processing business except the factory and land which is situated just south of Manila.
The acquisition is thought to be part of RFM’s plan to consolidate all branded food products under one division, reported Dow Jones Asian Equities Report.
