Marfrig Global Foods SA and BRF SA reached an agreement that has Marfrig acquiring 91.89% of shares in QuickFood SA, a beef-based processed food company in Argentina, for $60 million.
Marfrig also agreed to acquire real estate and equipment from a BRF unit in Mato Grosso, Brazil. A supply agreement commits Marfrig to providing BRF with finished food items such as hamburgers, meatballs, kibbehs and other items for 60 months.
In Argentina, QuickFood operates three plants located in San Jorge, Baradero and Arroyo Seco with slaughtering capacity of 620 head per day and a processing capacity of approximately 6,000 MT per month. The company produces hamburgers, franks, cold cuts and frozen vegetables.