São Paulo – Brazil’s Marfrig meat company said this Monday (9) that it acquired a 51% stake in the National Beef Packing Company, the fourth biggest player in the United States industry. The Brazilian company said in a press release that the deal was worth USD 969 million.
With a capacity to slaughter 12,000 head of cattle a day, the National Beef Packing Company is based in Kansas City, Missouri, and owns two meat processing facilities in the state. It ships product to 40 countries, including Japan and South Korea, two markets which are currently closed off to Brazilian beef sales.
Upon completion, the deal will make Marfrig the second biggest beef processing company in the world, with BRL 43 billion in revenue.
Translated by Gabriel Pomerancblum
