Home Agribusiness Brazilian Meatpackers Assets Based in Argentina Arouse Interest

Brazilian Meatpackers Assets Based in Argentina Arouse Interest

In the middle of the divestment program, Brazil's BRF sells its plants

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Brazil’s BRF, which recently decided to put its assets up for sale in the country, acknowledged that there are potential buyers for all its business units.

According to Reuters, the meatpacker owner of Quickfood, which in the country handles the traditional brands Paty and Vienissima, recognized through its chief financial officer, Lorival Luz, the interest in the different businesses although he refused to specify if the company would consider dividing the assets, which include the poultry and processed meat distribution business, in addition to the beef production unit.

The company’s decision is part of a divestment plan that the Brazilian company faces worldwide, and which also includes business in Europe and Thailand, to focus on its actions in the Brazilian, Asian and Muslim markets. In total, as reported a month ago, seeks to raise about US $ 1.300 million, which will be used to reduce debt.

In that process, the company announced several weeks ago that it had already hired three banks to advise on the sale of the plants: Itaú Unibanco Holding and Banco Bradesco, in the case of Argentine assets, and Morgan Stanley for the sale of operations in Europe and Thailand.

In the country it manages around nine plants, among the different production segments (processed products, beef and poultry), with emblematic brands such as Sadia, Avex, Dánica, Patyviena, Hamond, Tres Cruces and Goodmark, as well as Paty and Vieníssima.

According to its balance sheets, it handles almost two thirds of the hamburger market and about a third of the sausage sector, although it accumulates periods of heavy losses: last year it presented an operating deficit of $ 434 million, and in the first three months of this year the The company reported revenues of $ 1,686.6 million, but with an operating loss of $ 39 million and a negative net result of $ 76.3 million.