Perdigao takeover of Sadia approved by EU

02-07-2009 | |

European Commission regulators have approved Brazilian food processor Perdigao’s takeover of rival Sadia, reports Reuters.

Approval of the transaction by Brazilian competition authorities is still pending, said Perdigao.

Perdigao agreed to acquire Sadia on 19 May, joining Brazil’s top 2 poultry and pork processors to create a global industry leader with annual sales topping $10 bln.

The combined company, called Brasil Foods, would be the largest private sector employer in Brazil, with more than 116,000 workers, and would control almost a quarter of the global poultry market.