Brazilian food-processing company Marfrig has hired Lefosse Advogados in São Paulo and Allende & Brea in Buenos Aires to buy a majority stake in Quickfood from Brazilian counterpart BRF for 300 million reais (US$77 million).
Argentine law firm Pérez Alati, Grondona, Benites & Arntsen advised BRF. The parties closed the deal on 2 January.
The transaction gives Marfrig, which is Brazil’s largest food-processing company after JBS, a 92% stake in Quickfood. The target company owns three meat production plants in the province of Buenos Aires and the adjacent province of Santa Fe.
The deal also gives Marfrig one production plant in the Brazilian state of Mato Grosso. This plant has an agreement to supply meat products to BRF for the next five years.
The acquisition is part of Marfrig’s strategy to increase its high quality product offer. Earlier in 2018, the company bought a majority stake in US beef producer National Beef, becoming the world’s second largest beef producer with access to several markets in Asia, including Japan and South Korea. Lefosse advised Marfrig on that deal too.
Counsel to BRF
In-house counsel - Bruno Ferla
Pérez Alati, Grondona, Benites & Arntsen
Partners Maria Gabriela Grigioni, Luis Barry, Marcelo Nuñez and Eugenio Aramburu, and associates Facundo Fernandez Santos, Alicia Codagnone, María Carolina Abdelnabe Vila, Natalia Guttner and Pablo Vidal Raffo in Buenos Aires
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