September 7, 2020
Brazilian meat packing company Marfrig said Friday that it signed a non-binding agreement to form a joint venture with the Paraguayan Association of Meat Producers and Exporters, or APPEC.
Marfrig plans to invest up to $100 million over two years and take an 85% stake in the new company, it said in a securities filing. APPEC will have the other 15%, Marfrig added.
The São Paulo-based meatpacker is using the acquisition of National Beef in the United States as a model for the joint venture with A
Brazilian meat company plans to spend $100 mln for an 85% stake in a joint venture with APPEC