Marfrig Global Foods has announced the sale of its entire Moy Park business unit to JBS, one of the largest meat processors, for approximately USD 1.5 billion.
“This transaction represents an important step in JBS’ strategy to grow its portfolio of prepared and convenient products with high value added,” the company said. “In addition, this acquisition increases the company’s geographic diversification with an expansion of its operations in Europe.”
Moy Park is one of the largest poultry processors in Europe and its products include frozen and breaded poultry, at its factories in Craigavon and Grantham, Northern Ireland.
The transaction is subject to approval from competent authorities, including antitrust bodies in the European Union, and is expected to be signed by the end of 2015.