The Brazilian BRF has announced the sale of control of Quickfood in Argentina, Patti burgers and winemaking sausages, On Marfrig for $ 60 million. She returned to the company that bought it in 2007 and sold it to BRF five years later.
BRF, the largest food producer in Brazil, is trying to sell assets of about $ 800 million to cut its debt and sell business in the country and other markets.
The company has received 14 offers for Argentinean assets eight candidates were in the race.
The operation between BRF and Marfrig also envisages the transfer of premises and equipment to the BRF plant in the Brazilian town of Várzea Grande in Mato Grosso, $ 25.7 million (100 million rivers). The contract of sale includes a delivery contract in which Marfrig undertakes to provide BRF with processed products such as hamburgers and meatballs for five years.
Quickfood leads the production of meat products produced in Argentina. The company operates three plants, in San Jorge, Baradero and Arroyo Seco, with a slaughter capacity of 620 head per day and handling nearly 6,000 tonnes per month of hamburgers, sausages and frozen vegetables.
Marfrig Global Foods is based in San Pablo and was founded in 2000 by Markos Molina, who owns 35% of the shares. With plants in South America, its slaughter capacity is 4.7 million head per year. It has 35,000 employees, presence in America, Europe, Asia and Oceania and exports to 100 countries.