SAO PAULO, Oct. 4, 2012 /PRNewswire/ -- BRF – Brasil Foods
S.A. (BRFS3), announces that it has signed a binding offer to
acquire, through its subsidiary in Austria, a 49% share equity stake, and
management control of Federal Foods Limited, a privately-held
company headquartered in Abu
Dhabi, in the United Arab
Emirates. The remaining share equity stake in Federal Foods
will be maintained by Al Nowais Investments, the current owner of
Federal Foods.
Federal Foods is a leading food company in the United Arab Emirates, catering to a full
spectrum of retail, food service and wholesale clients. The company
operates 6 branches in the United Arab
Emirates and 1 in the State of
Qatar, with over 1,350 employees and a logistics fleet over
260 chilled/frozen vans and trucks. It reached US$ 266 million net sales and 92 thousand tons of
products in 2011.
Federal Foods has been a distributor of Sadia products in the
United Arab Emirates for over 20
years. In addition to Sadia products, it distributes a range of
chilled, frozen and dry products from other brands and suppliers.
Currently, BRF products already account for approximately 65% of
Federal Foods total net sales.
BRF will sell and distribute its portfolio of products in the
UAE through Federal Foods, including Sadia and Perdix brands, and
the portfolio from the processed products plant which will start
operating in 2013.
This acquisition is in line with BRF's strategic plan to
internationalize the company, accessing local markets,
strengthening BRF's brands and distribution and expanding its
product portfolio in the Middle
East.
BRF investment for the acquisition will amount to US$ 36 million, in return for a 49% share equity
stake in Federal Foods. BRF will hold management control as
established in the Shareholders Agreement, and will consolidate
Federal Foods financial statements.
Leopoldo Viriato Saboya
Chief Financial, Administration and Investor Relations Officer
Contact:
Katia Ramires
Email: katia.ramires@brasilfoods.com
Phone: +55 11 2322-5048
Ana Carolina Pires Bastos
Email: ana.bastos@brasilfoods.com
Phone: +55 11 2322-5037
SOURCE BRF - Brasil Foods S.A.