BRF completes acquisition of 49% stake in Federal Foods for US$ 37.1 million
BRF - Brasil Foods - today completed the acquisition of a 49% stake in Federal Foods, a food distributor in Abu Dhabi. The company spent US$ 37.1 million on the acquisition. BRF says Federal Foods is a leading food distributor in the UAE. The company has six branches in the UAE and one in Qatar, employing about 1,300 people.
Federal Foods has distributed Sadia products in the region for 20 years. Currently, BRF's products account for approximately 65% of the company's revenue. The purchase of this stake in Federal Foods is part of BRF's international expansion plans. It is building a factory in Abu Dhabi and has announced plans to build a plant in China.
Information provided by Valor Econômico