Brazilian poultry exporter BRF has signed an agreement to purchase the remaining interest in Oman-based Al Khan Foodstuff (AKF).
BRF owned a 40% stake in AKF. This stake is estimated to be worth $64m.
The latest move is part of its strategy to expand its processed foods business in the Middle East and Asia.
The acquisition of the remaining interest expects to improve access to the local market, which will help in bolstering its brands and distribution networks.
AKF serves retail, food service and wholesale clients.
For more than two decades, it has been distributing Sadia brand products in Oman.
Last December, the Brazilian firm allocated around $496m to acquire firms in Thailand, the UK and Argentina.
It also signed a binding offer to purchase Dutch firm Eclipse Holding Cooperatief for $85m.
The firm's global unit BRF signed an agreement to purchase Thailand-based Golden Foods Siam from Navis Capital Partners for $360m, reported Fox News Latino.
BRF markets its products under the brands Sadia, Perdigão and Qualy. It has 35 facilities in Brazil, six in Argentina, two in Thailand, one each in the UK, the Netherlands and the UAE, as well as 40 distribution centres.
