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Sun 10 May 2020 10:05 AM

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Brazilian meat giant BRF buys Saudi food processing plant in $8m deal

BRF plans to invest $7.2m in Dammam plant to increase capacity by almost six-fold

Brazilian meat giant BRF buys Saudi food processing plant in $8m deal

The food processing company has a plant in Dammam, whose portfolio includes breaded and marinated cuts and burgers.


Brazilian company BRF SA has bought Joody Al Sharqiya food production factory from Hungry Bunny Ltd and other firms in Saudi Arabia, for around $8 million.

The food processing company has a plant in Dammam, whose portfolio includes breaded and marinated cuts and burgers.

The deal was carried out by Badi Limited, a wholly-owned subsidiary of BRF.

Carlos Alberto Bezerra de Moura, chief financial and investor relations officer, BRF SA, said: “BRF plans to invest around $7.2 million in the Dammam plant in order to expand its current installed capacity from 3,600 ton/year to 18,000 ton/year, further increasing the presence of BRF in the Saudi market, in line with its strategy of establishing local production and further expansion of its high value-added product portfolio.”

According to de Moura, the acquisition does not impact a memorandum of understanding (MoU) previously signed with the Saudi Arabian Investment Authority (SAGIA) in October last year to secure $120m worth of investment in a processed food plant in Saudi Arabia.

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