Brazilian beef giant BRF has revealed that it has sold its Argentinian-based chicken and food products business Avex for US$50m.
Avex has been acquired by chicken products firm Granja Tres Arroyos and another company, Fibrel, in a joint deal.
Go deeper with GlobalData
It is the second Argentinian asset sale this month for BRF, which sold its QuickFood processed foods business to Brazilian peer Marfrig for $60m at the beginning of December.
The deals are part of a restructuring plan at BRF, which wants to raise $1.28bn to help pay off its debts.
BRF describes Avex as one of leaders in the production of chicken-based food and margarines in Argentina.
It operates three plants in Argentina, located in Llavalol, Villa Mercedes, and Rio Cuarto, with a slaughtering capacity of 160,000 birds a day and a processing capacity of approximately 10,000 metric tons per month of products, such as margarine, sauces, olive oil, and bakery ingredients.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
