BRF, the Brazil-based meat giant, has entered into an agreement to acquire Thai poultry processor Golden Foods Siam for an enterprise value of US$360m.
The deal includes Golden Foods Siam’s assets in Thailand and Europe. It remains subject to closing conditions.
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BRF said Golden Foods Siam is “one of the leading poultry producers” in Thailand. The company operates a fully integrated operation, including agriculture, slaughterhouse and further processing facilities. In 2011, Golden Foods Siam doubled its capacity to produce cooked meats with the opening of a new facility. The company has a presence in more than 15 markets globally.
BRF said: “This transaction is in accordance with BRF’s strategic plan for globalising the company, accessing local markets, strengthening BRF’s brands, distribution and expansion of its product portfolio around the globe.”
BRF’s sales performance has been lifted by strong top-line growth in international markets. In its most recent financial update, for the third quarter. BRF said group sales rose 14.4% in the three-month period, while sales within Brazil increased at the slower pace of 3.8%.
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