Brazilian meat processors merge
Brazilian food company Perdigao has announced plans to acquire competitor Sadia, which will create Brazil's largest pork and poultry processor with annual sales of more than US$10.59 billion, Reuters reports.
Under the merger, Perdigao will control 68% of the company and Sadia will own 32%.
The acquisition must first be approved by Brazilian regulators and does not include Sadia's Concordia Holding Financeira SA.
The combined company, to be called Brasil Foods, or BRF, would be one of the world's largest exporters of processed meats with factories in the Netherlands, Britain, Russia and Romania and export to countries including Germany,Japan, China, Chile, Turkey and Venezuela.
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