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 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.
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