Brazil’s BRF to acquire distribution business

Brazilian food company BRF in early October, signed a binding memorandum of understanding with Qatar National Import and Export (QNIE) for the acquisition of part of QNIE’s frozen distribution business, valued at $140m. BRF is one of the few currently successful listed Brazilian companies; it benefits from being an exporter in a period of currency weakness and is regarded as generally well run. BRF has a long relationship with the Middle East, which is a major importer of frozen meats; BRF’s Sadia frozen chicken brand can be found in many supermarkets in the Gulf.