Marfrig acquires Keystone Foods

by Editor
Tuesday, June 22, 2010

Brazilian meat processor, Marfrig Food S.A. has taken over the U.S. processor Keystone Foods, one of the world`s biggest food producers.

Keystone Foods LLC, with headquarters in West Conshohocken, Pennsylvania, serves more than 28,000 restaurants in 13 countries including USA, Europe (France and UK), Asia (China, Thailand, Malaysia and South Korea), Australia, New Zealand and the Middle East (UAE, Kuwait, Bahrain , Qatar and Oman).

Keystone will help to make Marfrig a prominent supplier to the international chains of McDonald's, Campbell's, Subway, ConAgra, Yum Brands and Chipotle. In 2009 the company had 12,900 employees in 54 production plants and had a net income of $6.4 billion.

The acquisition will cost Marfrig $1.26 billion and the deal is subject to customary regulatory conditions.