BRF acquires operations of Banvit in Turkey

Brazilian food conglomerate BRF has agreed to acquire the operations of Turkey-based poultry producer Banvit.

The transaction will be made through a joint venture between BRF and Qatar Investment Authority (QIA), the sovereign fund of Qatar, which will respectively hold a 60% and 40% stake.

Turkey is reported to be the world’s largest consumer of halal chicken, and the acquisition will enable BRF to further enhance its presence in the global market.

BRF Global CEO Pedro Faria said: “The units are located in the country’s West, which concentrates most consumers, and East, which positions it as the only company capable of serving both the domestic and export markets.”

The acquired assets from Banvit will be incorporated into BRF subsidiary OneFoods, which focuses on the halal market and is led by Patricio Rohner.

Rohner said: “The acquisition of Banvit is the first step on the agenda to accelerate the growth of OneFoods, which holds market share in chicken products of approximately 45% in Saudi Arabia, UAE, Kuwait, Qatar and Oman, countries where it operates with own distribution and a broad product portfolio.

“In addition to the growth opportunities offered by the Turkish market, especially in processed products, we see important commercial and operational synergies to capture by integrating the operations of Banvit and OneFoods, which will further consolidate our strength and leadership in the halal animal protein market.”