Brazilian beef company enters US market

Marfrig Frigoríficos e Comércio de Alimentos, Brazil's third largest beef exporter, has stepped into the US meat market by way of acquiring Mirab S.A. of Argentina. The $36 million purchase was completed by Marfrig´s subsidiary, Argentine Breeders & Packers S.A. (AB&P).Buenos Aires-based Mirab is Argentina's leading manufacturer of meat snacks including beef jerky and exports to several countries including the United States, Japan and the United Kingdom.

‘The acquisition of Mirab is considered strategic in strengthening Marfrig’s participation in the value-added meat snacks market [as] Marfrig already has three meat snack production facilities located in Brazil and Uruguay. As well as giving the group a production platform in Argentina, it marks the group’s first investment in North America with the acquisition of both a packaging and distribution facility,’ said Ricardo Florence, Marfrig’s director of investor relations.
Marfrig claim to be the fourth largest beef producer in the world. Sao Paulo-based competitor and Brazil’s leading beef exporter, JBS, purchased Greeley,
based Swift & Co in May 2007 thus becoming the largest processor and exporter of beef in the world.
www.Meatingplace.com

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