BRF sells off final Argentina asset

By Aidan Fortune

- Last updated on GMT

BRF has sold its final Argentina asset Campo Austral
BRF has sold its final Argentina asset Campo Austral
Brazilian meat processor BRF has concluded the sale of its Argentina-based subsidiary Campo Austral for US$35.5m.

The sale included the facility located in the city of Florencio Varela, and all assets and liabilities related to it, including the brands Bocatti and Calchaquí, to the Argentinean society Bogs.

Meanwhile 100% of the capital stock issued by Campo Austral, including its facilities in San Andrés de Giles and Pilar and the brand Campo Austral, were sold to La Piamontesa de Averaldo Giacosa y Compañía.

Campo Austral consists of three plants located in Florencio Varela, San Andrés de Giles, and Pilar with a combined slaughtering capacity of 2,300 hogs per day and a processing capacity of approximately 2,144 metric tons per month which includes processed and fresh products.

With this deal, BRF will conclude the sale of all its assets located in Argentina. The total value of these assets, Quickfood, Avex, and Campo Austral, amounted to US$145m.

These recent transactions are part of BRF’s Financial and Operational Restructuring Plan announced last June, with the goal of accelerating the financial deleveraging process of the company.

In December, BRF sold Aves to Granja Tres Arroyos and Fribel for US$50m. The sale included three plants: Rio Cuarto, with primary processing capacity of 160,000 birds per day; Llavallol and Villa Mercedes, which jointly process per month over 10,000 tons of products, including margarines, sauces, olive oil and baking ingredients under brands such as Dánica, Manty, Delicia and D’Fiesta, among others.

Related topics: Industry & Markets, Argentina, Brazil

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