MBRF to fold BRF’s Middle East assets into Saudi Arabia joint venture
BRF and meat peer Marfrig Global Foods have agreed terms with Halal Products Development Company (HPDC) to broaden a Saudi Arabia joint venture. Both of the Brazilian meat giants now form MBRF following the approval of a merger agreement in September. Prior to that combination, BRF had set up a joint venture with HPDC, which is owned by Saudi Arabia's sovereign wealth fund, the Public Investment Fund. Under an agreement announced yesterday (27 October), BRF will move its distribution businesses in Kuwai ...