July 24, 2008


Brazil's Marfrig buys Pemmican beef jerky brand from ConAgra

Brazilian beef company Marfrig acquired the Pemmican beef jerky brand from ConAgra Foods Inc., one of the leading branded foods companies in the US.


The US$25-million transaction also included acquisition of beef jerky production equipment from ConAgra. The deal was announced Wednesday (July 23).


Marfrig acquired the brand through its subsidiary Mirab USA Inc. of Michigan. Marfrig bought Mirab USA in December 2007.


In the ConAgra deal, Marfrig and ConAgra agreed to jointly distribute the Pemmican brand of snack beef jerky for five years, ending July 20, 2013.


Marfrig is one of Brazil's top three beef exporters and recently entered the chicken meat market this year with its acquisition of the OSI Group in both Brazil and Europe, which also included the purchase of the Pena Branca chicken brand in Brazil.


Marfrig shares on the Bovespa stock exchange were trading up 1.28 percent on Wednesday at U$12.56 per share in Sao Paulo.

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