Marfrig Frigorificos e Comercio de Alimentos S.A. announced agreements to purchase DeGranja Agroindustrial Ltda. for $58 million.
In addition, it will purchase the operations in the poultry segment of Moinhos Cruzeiro do Sul S.A. for $53 million.
The core business of DaGranja Agroindustrial is slaughtering, industrial breeding and sales of poultry and pork. The net revenue in 2007 was around $355 million with 25,000 customers and exports to more than 25 countries.
The second acquisition includes all equity of Penapaulo Alimentos Ltda and the brand Pena Branca. Penapaulo/Pena Branca is the largest poultry industry in Sao Paulo state with a core business in the creation, production, slaughter and sales of poultry as well as the industrialization, production and export of poultry products.
The company posted 2007 net revenue of $195.
Source: Marfrig Group