March 13, 2008

Marfrig to acquire CDB Meats for US$12 Million

Brazilian meatpacker, Marfrig, said Wednesday it will acquire UK's CDB Meats Ltd. for US$12 million.

CDB is a leading importer and distributor of branded and own-label food products to the retail, food service and food manufacturing sectors. Principal products include both retail and food service canned corned beef and canned ready meals.

Marfrig said the acquisition included CDB's integral subsidiary, Ham Packers Ltd. The company's acquisition comes amid a wave of deals in the industry.

Earlier this month, Brazilian meatpacking giant JBS SA, owner of the Friboi Group and Swift brands in the US, announced that it will acquire three companies, two based in the US and one in Australia.

As of 1311 GMT, Marfrig's shares were up 0.85 percent at US$9.85 on the Sao Paulo Stock Exchange, the Bovespa.