On Monday (25), BRF GmbH, a subsidiary of BRF S.A., entered into an stock purchase agreement with the shareholders of Al Khan Foodstuff LLC (AKF), a leading distributor of frozen food products in the Sultanate of Oman, which serves a large array of retail, food service and wholesale clients.
The BRF subsidiary already holds a 40% interest in AKF and, once the transaction is consummated will hold 100% of the capital of AKF, which in the context of the transaction is valued at US$64.0 million.
AKF has distributed Sadia products in Oman for over 25 years, along with a series of frozen products from other brands and suppliers.
The acquisition is consistent with BRF’s strategic plan to expand internationally and gain access to local markets, thereby strengthening its brands and distribution operations and expanding its product portfolio in the Middle East.
BRF, which markets products under the brands Sadia, Perdigão and Qualy, is one of the world’s largest food companies. It has over 105,000 employees, 35 industrial units in Brazil, 13 plants abroad (six in Argentina, one in the United Kingdom, one in the Netherlands, two in Thailand and one in the United Arab Emirates) and 40 distribution centers. It currently exports products to over 120 countries.