BRF Increases Share in Federal Foods11 April 2014
UNITED ARAB EMIRATES - Following the signing of an agreement with Al Nowais in February to acquire a larger share in Federal Foods in the Middle East, Brazilian poultry and food processor BRF has completed the deal.
BRF concluded the deal through its Austrian subsidiary and acquired the extra economic rights in accordance with the limits imposed by the United Arab Emirates.
The final value of the acquisition was $27.8 million.
The acquisition is in line with BRF’s strategic plan to internationalise the company by accessing local markets, through the processing and distribution, strengthening BRF’s trademarks and expanding its product portfolio across the Middle East.ThePoultrySite News Desk