December 4, 2007
Brazil's Sadia to buy Big Foods in Sao Paulo
Brazilian food company Sadia (SDA) said it will acquire Sao Paulo-based Big Foods Industria de Produtos Alimenticos Ltda for 53 million Brazilian reals (US$29.6 million), the local Estado newswire reported on Monday (December 3, 2007).
Sadia was unavailable for immediate comment.
Big Foods is known for frozen food items, including ready-made sandwiches, pizza and lasagna. The company's 2007 revenue was US$50 million, according to Estado.
Sadia is one of Brazil's leading chicken companies. The sector has been expanding over the last two years, including overseas projects. Sadia recently finished the construction of its first overseas unit last week, located in Russia.
Brazil is the world's leading chicken exporter.