November 2, 2007

 

Brazil's Perdigao beats Sadia as top food company in Brazil

 

 

Brazilian food company Perdigao (PDA), fresh from a series of acquisitions, has now surpassed rival Sadia (SDA) to become the nation's leading food company, according to a report in Estado de Sao Paulo newspaper Thursday (November 2, 2007).

 

The report cited business consulting firm, Economatica, which also said that Perdigao's acquisition of Eleva Alimentos makes it the 17th largest food company in the Americas, taking over Sadia's leading position.

 

Last year, Sadia tried to buy Perdigao for 3.8 billion Brazilian reals (US$2.2 billion), an offer which was refused.

 

The company will spend around BRL1.7 billion to buy Eleva. The deal still has to be approved by the Justice Ministry Antitrust Division, known as Cade.

 

Brazil is the world's leading chicken and beef exporter, two markets in which Perdigao and Sadia actively compete.