September 2, 2011

Marfrig gets approval to buy Seara

The Administrative Council for Economic Defense (or CADE) of Brazil gave Marfrig the go signal to purchase Seara "without any restrictions," according to reports.

Seara Alimentos makes sausage, bacon, hamburgers, ham, bologna and prepared meals.

The organization's president, Fernando Furlan, said this liberty followed the Ministry of Finance's recommendations.

This business transaction, stemming from 2009, is valued at US$900 million.

CADE has also granted Marfrig authority to purchase nine plants (located in the states of Mato Grosso do Sul, São Paulo, Paraná and Santa Catarina) along with a terminal port in Itajai (in Santa Catarina state).

The Brazilian company will also invest US$93.9 million in a new swine processing plant in Rosario Oeste in Mato Grosso state, according to a company statement shared with Carnetec on Monday.

The new slaughterhouse facility should process 2,000 swine per day on average when opened in 2012.

Marfrig announced its investment on Monday with the town's public officials, and highlighted that the meat processor will bring 1,200 new permament jobs to the region.