Brazilian food group Marfrig and Cargill both refused to be drawn on reports today (14 September) that they are in talks over the future of the US agribusiness giant’s poultry business in the South American country.
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Reports in Brazil have linked Marfrig, which has interests in beef, chicken and pork, to Seara Alimentos, a poultry business owned by Cargill.
Local newspaper Valor Economico claimed the two sides were in negotiations over Seara Alimentos and also suggested Marfrig was in talks with French meat processing group Doux.
A spokesman for Marfrig said the company “would not comment”, a stance also adopted at Cargill. Afonso Champi, Cargill’s corporate affairs manager in Brazil, said the group would not comment on “rumours”.
Last week, Marfrig secured five years of financing worth US$160m from Banco do Brasil and in August the group posted second-quarter net income of BRL405m (US$222.9m), reversing a net loss of BRL38.2m recorded in the first quarter of the year.
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By GlobalDataThe speculation surrounding further consolidation in Brazil’s meat processing sector comes after the May merger between Sadia and Perdigao.
