Marfrig Completes Asset Swap with Brasil Foods03 August 2012
BRAZIL - The final stage of the asset swap agreemnet between Marfrig and Brasil Foods took place this week.
Marfrig has now taken control of two industrial plants, three distribution centres and nine brands of BRF.
The move sees Harvest Foods margarine manufacturing plants come on to the market with the Doriana brand.
The deal that was started in March this year has seen Marfrig now controlling BRF industrial units in Brasilia and Great Plains, specialising in the production of processed food, distribution centres in Ribeirão Preto, Bauru, and Santos, in São Paulo, and the brands "Doriana" and "Delicata" margarine, "Texas", "Tekitos" and "patitas" processed meat-based, "Healthy Choice" and "Light & Elegant" line of foods with low fat and salt-based soy and turkey meat, pasta and vegetables and "Fiesta" and "Freski" poultry specialities.
With Doriana and Delicata, Seara Foods is taking its first steps in the margarine sector and is expanding its portfolio of foods.
"It's a privilege to join a new market with a top brand such as Doriana, which is loved by all Brazilians. Our goal is to recover and strengthen its position, ans also to expand its presence in retail outlets," said Seara marketing director of Harvest, Antonio Zambelli.
This week, Marfrig also announced to its shareholders that it is to proceed with the cancellation of 1,236,549 registered common shares that were held in treasury.
The shares had been acquired through the buyback programmes of the Company.
There is no change in the capital stock of the Company of R$4,061,478,051.00, which is now divided into 345,747,405 common shares.
An Extraordinary Shareholders’ Meeting of the Company will be called to amend Article 5 of the Bylaws to ratify and register the number of shares representing the capital stock of the Company following the cancellation of shares.