Brazil poultry giant expands
Global poultry giant Brasil Foods (BRF) has strengthened its position in Argentina by taking full control of local processor Avex. BRF acquired a two thirds stake in the company last year and has now acquired the remaining 33% stake held by local businessman Carlos Miguens Bemberg. The US$40.5 million (€31.0m) deal also gives BRF full control of three other companies, Flora Danica, Flora San Luis and GB Dan (Grupo Danica), all of which are headquartered in Argentina. In a statement, BRF said the deal will allow it to integrate its business in Argentina, which includes the operations of Quickfoods, acquired in July 2012. The transaction should be completed within 90 days.