Beef processing giant Marfrig increases stake in Brazilian peer BRF to 31.66%

BRAZIL – Marfrig Global Foods, the world’s second-largest producer of beef after JBS, has increased its stake in BRF to 31.66% in an effort to diversify its holdings. BRF is one of the biggest food companies in the world, with over 30 brands in its portfolio, among them Sadia, Perdigão, Qualy, Paty, Dánica and Bocatti. The Brazilian company has a presence in more than 130 countries across the globe and reported revenues of US$7.82 billion in 2020. The acquisition of additional stake in BRF comes two weeks after Marfrig revealed…

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Aleph Farms partners BRF to bring sustainable alternative protein to meat-loving Brazil

BRAZIL – The meat-loving nation of Brazil will now have an opportunity to taste a sustainable alternative to their preferred animal protein thanks to a new partnership between Israeli cultured meat startup Aleph Farms and Brazilian meat and food company BRF. According to a report by FoodBev, the two companies will partner to co-develop and produce cultivated meat using Aleph’s patented production platform BioFarm. BRF’s partnership with Aleph and subsequent entry into the alternative protein market is unprecedented as the company is one of the world’s largest producers of animal…

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Brazilian meat company BRF unveils new 10-year plan, plans to invest US$10.7B in market expansion by 2030

BRAZIL – BRF, a leading Brazil meat company has unveiled a new 10-year plan christened Vision 2030 where it intends to invest more that BRL 55 billion ($10.7 billion) over the next decade, in order to grow its business. The bold move is in an attempt by one of the biggest food companies in the world to expand its international presence, cement its leadership with high-added value brands and provide increased return. In its new 10-year plan, BRL has also set a goal to more than triple its revenue, aiming…

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Brazilian meat processor BRF appoints Carlos Alberto as new chief financial officer

BRAZIL – BRF, a Brazilian meat-packing company has appointed Carlos Alberto Bezerra de Moura as its new chief financial and investor relations officer. Carlos takes over from BRF’s global chief executive, Lorival Nogueira Luz Junior, who according a report by FoodBev, has been holding the position on an interim basis. Carlos brings in expertise form various roles he has previously held across industries. He will assume office on September 16, 2019. He was previously the executive officer and Chief Financial Officer of mining company Companhia Brasileira de Metalurgia e Mineração…

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Brazilian food company Marfrig acquires BRF’s Quickfood for US$55m

USA – Marfrig Global Foods, the second largest Brazilian food processing company has acquired 91.89% stake in Argentinean beef products producer, Quickfood for US$55 million. Quickfood, which has three plants in Argentina, was under the control of BRF SA, one of the largest beef producers in the world. The processing units have a daily processing capacity of 620 head of cattle and, in a month, process more than 6,000 tons of products such as beef patties, wieners, cold cuts and frozen vegetables. Its brands include Paty, Good Mark and Barfy,…

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BRF CEO Pedro Parente to leave company in mid-2019

BRAZIL – Chief Executive Pedro Parente of Brazilian meat packing company BRF SA has announced plans to leave the company and that the current Chief Operating Officer Lorival Luz would succeed him in the CEO role. According to Reuters, Parente told investors and analysts after a presentation in Sao Paulo that he will still participate in the company’s strategic decisions after the succession, with a spokeswoman saying that Parente would remain as BRF chairman. This comes two months after the company made strategic changes in its organizational structure, in an…

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BRF appoints new CFO as strengthens its organizational structure

BRAZIL – BRF, the Brazilian company and the biggest food companies in the world, has made changes to its organization through the election of executives to the positions of Chief Financial & Investor Relations Officer, Integrated Planning Officer and Strategy, Management & Innovation Officer. According to the company, as part of the ongoing process to strengthen its organizational structure, the Board of Directors of BRF approved the new changes in a meeting held on August 31, 2018. Elcio Ito will become the new Chief Financial & Investor Relations Officer, an…

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BRF to close down turkey meat production line in Mineiros

BRAZIL – BRF, one of the largets food companies in Brazil, has made plans to close down its turkey meat production line in Mineiros (GO) due to lack of market for the products. According to Business Insider, Jorge Luiz de Lima, the global vice president of the Brazilian food company’s corporate efficiency, made the statement. “We are redoing the factory park, aiming to adjust the production because we have nothing to do with that,” Lima said during a hearing on the Senate Agriculture and Agrarian Reform Commission. “In Mineiros we…

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Brazil’s food giant BRF names new chief executive officer

BRAZIL – BRF, one of the biggest food companies in the world, has named Pedro Parente as the new chief executive officer with the hope that the new CEO will give a successful turnaround. According to SeekingAlpha, the government commission; which approved the appointment, said the nomination of the new CEO faces no conflict of interest with Parente’s previous job as CEO of Petrobas. As CEO, Parente will have to deal with debt levels that are among the highest in the industry after a string of losses, the fallout of…

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Brazilian meat producer BRF reports loss in Q1 following trade bans

USA – BRF S.A, the Brazilian food company has registered a loss of US$32 million in the quarterly results despite rising domestic sales citing a difficult trading environment especially after trade bans imposed by Russia and Europe on Brazilian meat products. As a result of trade bans, the company was forced to send workers on paid leave and according to Chief Executive Lorival Luz, challenges in the period included high prices for animal feeds especially in the second quarter consequently increasing production costs. Year-on-year net revenues rose 5% to US$2.3…

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