July 2, 2009

Brazil Perdigao takeover of Sadia approved by EU-filing

Brazilian food processor Perdigao said on Wednesday (July 1) its takeover of rival Sadia has been approved by European Commission regulators.


Perdigao said in a regulatory filing that approval of the transaction by Brazilian competition authorities is still pending.


On May 19, Perdigao agreed to acquire Sadia, joining Brazil's top two poultry and pork processors to create a global industry leader with annual sales topping US$10 billion.


The combined company, called Brasil Foods, would be the largest private sector employer in Brazil, with more than 116,000 workers, and would control almost a quarter of the global poultry market.