BRF EXPANDS OPERATION IN ASIA BY ACQUIRING GOLDEN FOODS SIAM
Jan 27, 2016 •
The transaction, closed today, reflects BRF’s commitment to growing its business worldwide and in the region
BRF GmbH, a subsidiary of BRF S.A, has concluded the acquisition of Golden Food Siam (GFS), in Thailand. The acquisition marks BRF’s entrance in Thailand, the third largest exporter of chicken in the world, reinforcing its commitment to grow its business worldwide.
The US$360 million transaction will allow BRF, one of the largest food companies in the world, to diversify its global footprint, as well as to enhance its portfolio of cooked products. Founded in 1991, Golden Food Siam is one of Thailand’s largest fully integrated chicken processors and a global leader in the manufacture of fully cooked chicken products, mainly exported to the European Union and Asia.
"This is a milestone for BRF and reflects our commitment to expand our business globally. We are now the only company in the sector able to serve our global clients both from Brazil and from Thailand. Our globalization process is serious and consistent”, affirms Pedro Faria, Global CEO.
The acquisition also increases significantly BRF’s presence in Asia and also in Europe, one of the key markets of GFS, improving the understanding of consumers and clients´ needs and trends, which is key to BRF’s mission to deliver on the quality of products and services.
In the last two years, BRF has intensified its global expansion process and Southeast Asia is one of the key priorities. In April, 2015, BRF has entered a joint venture agreement with SATS in Singapore to process and distribute food products. Other 11 major operations have been carried out in the last 24 months, in Europe, Middle East, Asia and Latin America.