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BRF forms joint venture in Saudi Arabia

BRF forms joint venture in Saudi Arabia

January 14, 2022 | Thierry Ogier
Brazilian food company plans to invest $350 mln for a 70% stake in a new chicken business with sovereign wealth fund PIF

Corporate & Sovereign Strategy Equity M&A Brazil Middle East

Brazilian food company BRF said Thursday that it plans to invest $350 million in a new joint venture with Saudi Arabia's Public Investment Fund (PIF) to make and market chicken products in the Arab country. BRF will own 70% of the joint venture, while PIF will have 30%, the Brazilian company said in a securities filing. The joint venture will produce and sell fresh, frozen and processed chicken products with a halal business hub in Saudi Arabia, BRF added. Forming a joint venture with PIF may al

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