- Oct 29, 2024
- 2 min read
Minerva Foods has finalised the acquisition of Marfrig assets in Brazil following approval from Brazil's antitrust authority (CADE).
The purchase adds 13 cattle and sheep slaughter and deboning plants, along with a distribution centre, to Minerva’s operations. This transaction, valued at BRL 7.5 billion (approx. $1.53 billion), was initially announced in August last year.
The Marfrig deal also includes three cattle slaughter and deboning plants in Uruguay, pending approval by the country's competition authority. In total, the acquisition covers 16 South American plants and a distribution center in Brazil.
The company now has a daily slaughter capacity of 22,336 head across 21 plants in Brazil. As part of the same deal, Minerva is also integrating a cattle slaughter and deboning plant in Argentina and a lamb plant in Chile, adding a daily capacity of 5,978 head in Argentina across six plants and 25,716 head in five lamb plants across Australia and Chile.
The deal expands the company’s reach to international markets, including North America, Europe, the Middle East and Asia, establishing it as the leading beef supplier to China with the most export-authorised plants in the sector.
The new plants strengthen Minerva's ability to meet rising global beef demand through a South American production platform, "maximising the competitive advantages of our continent and expanding opportunities by capturing operational and commercial synergies," said the company.
According to the Minerva, this deal boosts the business' capacity in the global animal protein market, reducing risks and increasing opportunities. It improves the efficiency of cattle production across South America and strengthens the company’s position domestically, making it the region's second-largest beef producer.
Fernando Queiroz, CEO of Minerva Foods, said: "For more than 30 years, we have built a strong track record in the animal protein market, creating connections between people, food, and nature. We are pleased to take another major step in our global positioning, and even more excited to strengthen our team with the new members who will join as a result of the integration of the new plants."
