14/01/2025 09h13

The completion of the transaction consolidates the Company as a strategic partner of Saudi Arabia in food security and strengthens its portfolio in the local market

BRF, one of the largest food companies in the world and owner of the brands Sadia, Perdigão, Qualy, and Banvit, together with Halal Products Development Company (HPDC), a wholly-owned subsidiary of the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, announced today (15) the completion of the investment in Addoha Poultry Company (“Addoha”), through its joint venture BRF Arabia.  

The completion of the transaction formalizes the acquisition of 26% of the Saudi company and consolidates BRF as a partner of Saudi Arabia, where it has operated for 50 years. The operation strengthens BRF’s portfolio and presence in the Middle East, with a total investment of SAR 316.2 million (equivalent to USD 84.3 million), of which SAR 216.2 million (USD 57.6 million) will be injected into Addoha. 

“This is a significant step forward in our global operations in a highly strategic market for the Company, where the Sadia brand already holds a leading position. This initiative strengthens BRF’s strategy to consolidate itself as a reference in the animal protein sector in the Saudi market and ensures a permanent presence in the country’s food security agenda”, highlights Marcos Molina, Controller and Chairman of the Boards of Directors of Marfrig and BRF. 

BRF has its own distribution ecosystem and a processed food factory in Dammam. This operation also contributes to Saudi Arabia’s efforts to achieve the economic diversification objectives outlined in Vision 2030, a long-term strategic plan, while also supporting the government’s goal of positioning the country as a global hub for halal products. 

About Addoha  

Founded 34 years ago, Addoha Poultry Company is among the leading Saudi companies in the poultry sector. Since our inception, we have been committed to providing our customers with the highest quality products. We aspire to prosperous leadership in the future of the poultry meat market in Saudi Arabia and the GCC. Our goal is also to contribute to increasing the sector's self-sufficiency rate to achieve food security objectives in line with the Kingdom's Vision 2030. Additionally, we aim to ensure the best Halal poultry products for our families, customers, and homeland by adopting the latest global technologies in the poultry industry and applying the highest levels of quality standards.

BRF Arabia Holding Company (“BRF Arabia”)

In August 2023, BRF announced the establishment of a joint venture with Halal Products Development Company (HPDC), a subsidiary of the Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund. The joint venture vehicle, BRF Arabia, was established on December 10, 2023, and is 70% owned by BRF and 30% by HPDC. 

About BRF   

One of the largest food companies in the world, BRF is present in more than 120 countries. Its purpose is to offer high-quality, increasingly tasty, and practical food – for people and their pets worldwide – through sustainable management of its supply chain, from farm to table. Owner of iconic brands such as Sadia, Perdigão, and Qualy, the Company bases its actions on fundamental commitments to safety, quality, and integrity. Its strategy is built on a long-term vision and aims to generate value for its nearly 100,000 employees worldwide, more than 415,000 customers, approximately 9,000 integrated producers in Brazil, all its shareholders, and society.