Brazil's Marfrig acquires National Beef for $969 million

Brazil’s Marfrig Global Foods announced early Monday it has reached an agreement to purchase 51 percent of National Beef Packing Co. for $969 million. The acquisition would make Marfrig the world’s second-largest beef processor, with consolidated sales of US $13 billion. The acquisition would boost Marfrig’s total slaughter capacity to 8.3 million per year with the combined operations, and provide access to the Japanese and South Korean markets, which are currently closed to Brazilian beef. –Drovers CattleNetwork Read more…