Brazilian food conglomerate BRF has announced the sale of its wholly-owned subsidiary food manufacturer Campo Austral in Argentina.
The Argentinian pork-based manufacturer operates three plants that are located in Florencio Varela, San Andrés de Giles and Pilar. The plants have the capacity to slaughter 2,300 hogs per day.
They also have a processing capacity of approximately 2,144 metric tons per month, including processed and fresh products.
The $35.5m deal comprises the sale of the Florencio Varela facility, as well as all assets and liabilities associated with it such as the Bocatti and Calchaquí brands, to Argentinean society BOGS.
Additionally, the transaction includes the sale of 100% of the capital stock issued by Campo Austral, including its facilities in San Andrés de Giles and Pilar, as well as the Campo Austral brand, to Argentinean society La Piamontesa de Averaldo Giacosa y Compañía.
This marks the completion of sale of all of BRF’s assets located in Argentina.
Last month, BRF completed the sale of the shares representing 91.89% of QuickFood’s capital stock to Marfrig Global Foods for $60m.
The two firms also executed a supply agreement, under which Marfrig will provide BRF with finished goods such as beef patties, meatballs, kibbeh and other products with a term of 60 months.
In the same month, BRF announced that Granja Tres Arroyos and Fribel have agreed to jointly acquire 100% of the capital stock of chicken and margarine company Avex for $50m.
The sale of the three businesses is reported to be part of BRF’s restructuring plan that was announced last year.
