Minerva completes acquisition of Marfrig assets in Brazil and other South American countries

The company will operate 46 plants across seven countries; the first slaughter at the acquired facilities is scheduled for November 4.

Minerva announced to the market in a material fact statement that it has completed the acquisition of 13 industrial units and a distribution center owned by Marfrig. The transaction, valued at approximately R$5.68 billion, was concluded after meeting the conditions set forth in the purchase and sale agreement between the companies. The acquisition includes facilities located in Brazil, Argentina, and Chile, expanding Minerva’s industrial capacity, which now encompasses 46 units across seven countries, including Brazil, Paraguay, Argentina, Uruguay, Colombia, Chile, and Australia. Previously, R$1.5 billion had been paid upon the transaction’s announcement last year.

Minerva reported that the new assets will enable the company to process up to 41,789 cattle and 25,716 sheep daily. The first slaughter at the acquired facilities is scheduled for November 4 as part of the operational integration timeline.

Additionally, the company will convene a general assembly to ratify the operation, as required by the Brazilian Corporation Law. Shareholders who disagree with the transaction may exercise their right of withdrawal, if applicable, with a refund for their shares based on the company’s net worth. Minerva also awaits regulatory approval to complete another acquisition related to three slaughter plants in Uruguay as part of its regional expansion strategy.

“With these acquisitions, Minerva Foods strengthens its position as the largest beef exporter in South America. This initiative aligns with Minerva Foods’ business strategy and uniquely complements our operations in South America, maximizing commercial opportunities and operational synergies, reducing risks, and enhancing our ability to compete in the international animal protein market while respecting the company’s commitment to sustainability, financial discipline, and value generation for shareholders,” the company stated in the material fact signed by Investor Relations Director Edison Ticle.

Translated from: O Estado de São Paulo.