November 27, 2008
Brazil's Marfrig focuses on integration during financial crisis
Brazilian meat company Marfrig will put the brakes on acquisitions during the financial crisis and focus on integration instead, reported local news service Estado.
"Now is the time to consolidate what we already have," Estado quoted Marcos Molina, president of Marfrig as saying.
Marfrig recently has completed some 1.4 billion Brazilian real (US$511 million) in acquisitions including a US$680 million purchase of Europe's OSI Group assets in Brazil and Europe.
Marfrig, which is one of Brazil's top three beef exporters, intends to focus on gaining synergies from its acquisitions, improving its margins and keeping its current market share, Estado reported.
Brazil is the world's leading beef and chicken exporter.