January 3, 2013

Brasil Foods acquires 33% stake in Avex

Brazil's food firm, Brasil Foods (BRF), has bought a 33% stake in Avex, Argentina's leading poultry producer and exporter.

Through this deal, the Brasil Foods has also acquired Argentina's Danica group. The transaction is expected to be completed within 90 days. BRF plans to invest US$40.5 million in the newly acquired companies.

This deal will enable BRF to integrate its business in Argentina, as well as to gain synergies for integrated business.