MBRF Global Foods will become an official entity on September 22 with the completion of the merger between Brazil-based animal protein companies BRF and Marfrig Global Foods. Shares of the combined company will begin trading on Brazil’s B3 exchange on the following day, under the ticker MBRF3.
The two companies first announced their intent to merge in May, after having been affiliated companies since Marfrig first purchased shares of BRF in 2021, eventually becoming BRF’s majority shareholder.
The proposal has since gained shareholder approval, and on September 5, BRF and Marfrig jointly announced that the merger plan received approval from Brazil’s competition regulator, the Court of the Administrative Council for Economic Defense (CADE). However, at the time, the companies said the merger was still subject to certain conditions.
In a material fact notice that can be found on the BRF Investor Relations webpage, BRF and Marfrig stated that the conditions of the merger have been met, and they announced the closing date of the merger and the date for the beginning of MBRF shares trading.
BRF is primarily known as a poultry and pork producer, ranking as the world’s third largest poultry producer, having slaughtered 1.67 billion broilers during the past year, according to the WATTPoultry.com Top Poultry Companies Database. BRF is also the 14th largest feed producer. In 2021, BRF became a major player in the Brazilian pet food market with the acquisitions of established manufacturers Hecosul and Mogiana.
Marfrig Global Foods is primarily known as a beef producer, but its slaughter activities also include cattle, horses, pigs, goats, sheep, poultry and buffalo. Marfrig is also the world’s 132nd largest feed producer, and is the former owner of Keystone Foods, which was acquired by Tyson Foods in 2018.
