December 11, 2018 |
Brazil's BRF said it has sold its Argentine hamburger business and ceded control of a local plant to its rival Marfrig for around $85m.
BRF offloaded 91.9% of Quickfood for $60m and sold a facility in the center-west state of Mato Grosso for BRL100m ($25.5m), the Brazilian food company said in a statement.
Marfrig signed on to supply BRF with hamburgers, meatballs and other finished goods for five years as part of the agreement.
Marfrig will make an offer to buy the remaining 8.11% of Quickfood
Brazilian food company gets $85m from two deals with its local rival