BRF plans to invest $496m to buy firms in Argentina, Thailand and UK

BRF, a Brazilian poultry processor, is seeking to buy firms in Argentina, Thailand and the UK, and is prepared to invest around $496m.

The company stated that it had secured a binding offer to acquire Dutch company Eclipse Holding Cooperatief for an enterprise value of $85m, reported Fox News Latino.

The Dutch company controls Campo Austral, a host of companies holding pork and cold-cuts business in Argentina.

BRF, which is based in Itajai, Brazil, also stated that its overseas unit BRF GmbH had signed an agreement to buy Golden Foods Siam from Malaysian private investment firm Navis Capital Partners for $360m.

Golden Foods Siam is a leading poultry producer in Thailand and has a presence in 15 countries.

This purchase will allow BRF to expand into Thailand.

The Brazilian firm also created a binding memorandum of understanding to purchase the complete issued share capital of Universal Meats for approximately $51m.

Universal Meats is a food distributor with special focus on the food service sector in Britain.

Last month, BRF announced its intention to expand its production facility in Abu Dhabi, UAE, in order to cater to the growing needs of new markets such as North Africa, sub-Saharan Africa, and Asia with the expansion.

Recently, the company gained recognition for its sustainability efforts by finding a place in the environmental, social and governance (ESG) index, which was introduced in June 2014.

BRF was set up in 2009 following the merger of Brazil’s largest poultry and pork producers, Sadia and Perdigao.