Minerva, a Brazil-based producer of beef, has entered into an agreement with meat processor BRF to acquire latter's beef division Newco Diviso de Bovinos.
Under the terms of the agreement, Minerva will acquire assets and slaughtering and deboning operations in BRF's Várzea Grande and Mirassol D'Oeste plants in exchange of 15% of its capital.
The company will now increase its slaughtering capacity to 14,080 heads per day, 23% higher than its current capacity.
Minerva and BRF have also entered into a industrial beef supply agreement, which is expected to become effective after the completion of the transaction.
Minerva slaughters livestock and processes meat products primarily in Brazil. The company produces, markets, and sells beef, leather, live cattle, and its by-products, as well as processes beef, pork, and poultry products.
