November 4, 2008


Brazil meat company Marfrig completes OSI Group acquisition



Brazilian meat company Marfrig completed a US$680 million purchase of Europe's OSI Group assets in Brazil and Europe, Marfrig said in a press release Monday (November 3).


Marfrig is one of Brazil's top three beef exporters. The company effectively enters into the lucrative poultry markets in both Brazil and Europe with the OSI deal finalized.


Brazil is the world's leading beef and chicken exporter.


"The investment reinforces our strategy ... to access international markets directly, and diversifying and increasing our product portfolio of animal proteins," said Ricardo Florence, investor relations director at Marfrig.


Florence said the deal allows Marfrig to expand into the processed-food markets, as well as open markets for Brazilian meats in Europe.


The European Commission approved of the acquisition on October 14.


Marfrig bought OSI assets in June 2008. It now owns the Moy Park chicken company in the UK and Kitchen Range Foods Limited, a food company in the UK. In Brazil, Marfrig now owns OSI assets Penasul Alimentos, Braslo Produtos de Carnes and Agrofrango, all meat companies.

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