BRF sells 49% stake in Singaporean halal production unit
BRF has sold its 49% stake in the SATS BRF Food joint venture in Singapore to SATS Food Services for $12.3 million. The unit specialized in halal and frozen meat will be renamed Country Foods.
SATS said the acquisition is part of plans to consolidate its position in aviation catering in Asia and become a leading supplier to the foodservice industry in China and India.
“By taking 100% ownership of our food distribution joint venture company, we can accelerate end-to-end traceability of raw materials for our customers, and deploy data analytics to achieve greater efficiency and quality, while reducing food waste,” said Alex Hungate, CEO of SATS.
The new entity has also signed an exclusive distribution and licensing agreement with BRF Global to distribute products and the right to license brands owned by BRF in Singapore.
On the other hand, BRF seems to focus on its core markets in Brazil, Asia and in Muslim countries, a process initiated last year. Since then, the Brazilian producer has sold its European and Thai units to Tyson Foods and offloaded all its facilities in Argentina.
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