Marfrig Completes Acquisitions in Argentina and US

BRAZIL - Brazilian beef company Marfrig Frigorificos e Comercio de Alimentos SA has bought Mirab S.A. (“Mirab”), Buenos Aires, Argentina.
calendar icon 3 January 2008
clock icon 1 minute read

The acquisition of 100 per cent of teh shares was carried out through Marfrig's Argentinian subsidiary, Argentine Breeders & Packers S.A. (“AB&P”), Santa Fe, Argentina.

The deal is worth $36,000,000.

Mirab is the leading manufacturer in Argentina of meat snacks including beef jerky at its modern production facility in Pilar, Province of Buenos Aires.

It exports to several countries including the United States of America, Japan and United Kingdom.

It imports, packs and distributes its products in the United States of America through its wholly owned subsidiary, Mirab USA, Inc, based in Taylor, state of Michigan. Mirab USA, Inc is the world’s largest processor and distributor of private label beef jerky supplying to the major retail outlets in the United States of America and Canada. It also sells and distribute under its proprietary brands, “Pecos Bill’s”, “Farmer’s Market” and “Rancher’s Brand”.

The acquisition of Mirab is considered as strategic in strengthening Marfrig’s participation in the value added meat snacks market where Marfrig, one of the leading beef and beef-product producers in Latin America, already has three meat snack production facilities located in Brazil and Uruguay. As well as giving the Group a production platform in Argentina, it marks the Group’s first investment in North America with the acquisition of both a packaging facility and distribution.

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