Sector News

Brazil's Marfrig close to decision on Keystone sale: source

June 29, 2018
Food & Drink

Brazil’s Marfrig Global Foods SA is close to selling its U.S. subsidiary Keystone Foods LLC, which supplies chicken to restaurant chains such as McDonald’s Corp, one person with direct knowledge of the matter said on Wednesday.

Five binding proposals were delivered earlier this week and Marfrig’s controlling shareholder Marcos Molina will decide on them soon, according to the source.

Among the groups interested in Keystone are Cargill Inc, Tyson Foods Inc, Cofco Corp, China Investment Corp and George Inc, a family-owned chicken producer based in Springdale, Arkansas.

Shares in Marfrig were up 4.4 percent at 8.30 reais on the Sao Paulo stock exchange, extending this year’s gains to 15 percent. Bloomberg reported on Tuesday that Marfrig had received binding offers for Keystone.

By Tatiana Bautzer

Source: Reuters

comments closed

Related News

September 22, 2023

Food safety in focus: Japan researchers advance rapid bacterial testing tech to prevent food poisoning

Food & Drink

A new technology that speeds up bacterial testing in food is showing promise to “revolutionize” the process of testing bacterial viability in food, according to Japan-based scientists who discovered the breakthrough in food safety. The technique can reportedly verify food safety before shipment from factories and prevent food poisoning.

September 22, 2023

Heineken Mexico invests €430m in new brewery

Food & Drink

Heineken Mexico plans to invest €430 million in the establishment of a new brewery in Yucatán, aiming to expand sustainable brewing practices and foster community growth. Construction will take place in the Kanasín municipality, marking the company’s inaugural brewery in southeastern Mexico.

September 22, 2023

KDP appoints Tim Cofer as COO, to assume CEO role in 2024

Food & Drink

Keurig Dr Pepper (KDP) has appointed former Mondelēz International executive Tim Cofer as its new chief operating officer, with plans for Cofer to succeed current CEO Bob Gamgort in the second quarter of 2024. Cofer, who will join KDP on 6 November, will work closely with Gamgort while in the capacity of COO.

How can we help you?

We're easy to reach