18 March, 2019 - 20 March, 2019
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03 April, 2019 - 06 April, 2019
03 April, 2019 - 05 April, 2019
06 April, 2019 - 10 April, 2019
High Point (NC), U.S.
The Brazilian meatpacker announced it has acquired Quickfood, a leader in Argentina’s beef by-products market, and formed an alliance with multinational BRF in the Brazilian market.
Marfrig has acquired Quickfood for US$54.9 million, representing 91.89% of the capital stock of the Argentinean company. Under the control of BRF for the last seven years, Quickfood is a leader in the beef by-products market and owner of prominent brands in Argentina. “With this acquisition, we are reinforcing one of our strategic pillars: focus on growth in value-added products and brands,” said Eduardo Miron, Global CEO, Marfrig. “And we are doing this by acquiring a company renowned for operational excellence. We believe that this operation will create value for our stakeholders."
Quickfood has three plants in Argentina which together process more than 6,000 tonnes of products monthly, such as beef patties, wieners, cold cuts and frozen vegetables. The company’s brands include Paty, Good Mark and Barfy, synonymous with beef patties in Argentina; Vienissima, a leading brand of wieners, and Green Life, a frozen vegetables brand. Listed on the Buenos Aires Stock Exchange (PATY) since 2002, Quickfood’s net sales in 2017 amounted to US$352 million.
Marfrig also announced a partnership with BRF worth R$100 million (US$25.61 million), through which it will take over the production of beef patties, meatballs and kibbeh at the plant located in Varzea Grande, Brazilian state of Mato Grosso, which has an annual production capacity of 69,000 tonnes of beef patties. The deal is also said to include the transfer of equipment and infrastructure. “The partnership guarantees Marfrig an agreement for supplying these products to BRF for five years”, said the meatpacker, which will supply products to global foodservice companies in Brazil and to adjust the estimated investment to a new beef patties plant in the country.