Marfrig and BRF may merge into a giant group
Brazilian companies BRF and Marfrig are in talks for a potential merger, according to sources from inside. Under the pending new deal, BRF shareholders would assume 85% equity ownership and Marfrig will cover 15%, informs Food Ingredients First magazine.
Such a move will allow the firms to "a world leader in the protein market with wide geographical and product diversification", said different sources with knowledge about the talks.
The potential merger may include the consolidation of assets and shares in a new company, though no structure has yet been defined. The firms’ combined net revenues for last year were estimated at around BRL 76 billion ($19.4 billion).
The potential merger highlights the uptick in business for Brazilian meat companies, noted as the onset of African swine fever continues to grip Chinese pork markets. Asia’s biggest pork producer and consumer is projected to lose 10% of its pork production this year due to the disease.
As a result, prices and trade volumes outside of pork are expected to rise for chicken, beef, seafood and even plant-based alternatives – leading to a surge in revenue for related suppliers. Both companies have a significant presence in the Brazilian, US, Latin American, Middle Eastern and Asian markets.
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