Marfrig completes takeover of Seara
Marfrig Alimentos S.A. has completed its acquisition of Cargill's entire animal protein businesses in Brazil represented by Seara and its affiliated companies in Europe and Asia.
The US$899 million transaction includes the SEARA brand in Brazil and abroad, 12 plants in the value-added processed products segment and a port terminal.
About US$705.2 million are paid in cash, with US$193.8 million in debt following the due diligence process. The US$705.2 million was paid to Cargill Inc. on January 4, 2010.
The businesses of Seara Alimentos in Brazil and the offices located abroad will be managed by the Poultry, Pork and Processed Products Division - Brazil of the Marfrig Group.