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

February 4, 2023

Unilever names FrieslandCampina’s Hein Schumacher as next CEO

Food & Drink

Schumacher will replace Alan Jope, who announced his decision to retire last September, less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.

February 4, 2023

Tetra Pak execs flag plant-based ice cream development hurdles as indulgent offerings expand

Food & Drink

Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.

February 4, 2023

Examining the meaning of eco-labels: Is it time for mandated methodology?

Food & Drink

A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.

How can we help you?

We're easy to reach