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Home Argentine Business and Enterprises Tres Arroyos Farm and Brifel buy from BRF the agro-industrial company Avex in us$ 50 million

Tres Arroyos Farm and Brifel buy from BRF the agro-industrial company Avex in us$ 50 million

Changes in the national agro-industry.

Business and Enterprises
Granja-Tres-Arroyos-

The agrifood companies Granja Tres Arroyos and Brifel signed the purchase of the poultry Avex to the Brazilian company BRF in US$ 50 million, informed the selling firm through a statement.
In this way, the Avex de Rio Cuarto plants, with a slaughter capacity of 160,000 chickens per day, and those of Lavallol and Villa Mercedes, where more than 10,000 tons of products such as margarines, dressings and oils are processed monthly under the brands Dánica, Manty, Delicia and D'fiesta, are passed into the hands of the two acquiring companies.
BFR defined Avex as the "absolute leader" in Argentina in the margarine market, exports frozen chicken cuts to more than 40 countries and has an employee portfolio of 800 people, with presence in the Argentine market since 1950.
According to BRF, the US$ 50 million agreed with Argentine companies "contributes to the fulfillment of the goal of 5 billion reais established in the Operational and Financial Restructuring Plan".
So far, the BRF disinvestment program, which was divested in Argentina two weeks ago from Quickfood, reached R$1.9 billion in signed operations.
The company's goal is to reach, in December 2018, a "pro forma net leverage, measured by the net debt/Ebitda ratio (earnings before interest, taxes, depreciation and amortization) adjusted to 4.35 times".
In this respect, the BRF COO, Lorival Luz, stated that the company "we are focused on the conclusion of the restructuring plan and we maintain our objective of reducing the company's indebtedness as an essential step of our strategic plan".
Source: Télam

Publication Date: 31/12/2018

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