Brazilian food maker BRF Foods has finished the sale and divestment of its dairy production business to french Lactalis. Irish company Carbery, which had been involved in a joint venture with BRF since 2012, also sold its 50% stake in this property to Lactalis, while announcing intentions to retain a strong presence in the country.
The sale, for over 700 million euros, was approved by regulators in April, and was only now completed.
Lactalis operates in Brazil’s dairy market under the Parmalat brand. The move would give them all of BRF’s current operation, including the Batavo and Elege brands. BRF has itself announced its intention to focus on its meat business and on international growth. Dairy represented 10% of BRF’s income in 2013.
Source: Irish Examiner
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