Marfrig buys into Uruguayan tanning group
22/09/2009
Brazilian packer company Marfrig Alimentos SA has announced that it has reached an agreement to buy a 51% stake in Uruguay-based tanning company Zenda for $49.5 million.
Zenda, which concentrates on producing leather for the automotive and aerospace sectors, achieved turnover of around $177 million in 2008 and has the capacity to process up to 7,000 cut and finished hides per day in a series of tanneries it runs in Argentina, Mexico, the US, Germany, South Africa, Chile, Hong Kong and China.
It has been in business since 1890 and lists BMW, Audi, Porsche, Nissan, Mitsubishi, LAN Chile and Aerolíneas Argentinas among its customers.
Last week, while JBS and Bertin were announcing their intention merge, Marfrig completed the acquisition of Cargill's Brazilian poultry exporter Seara for $900 million, and also signed a deal to lease 12 plants owned by rival Brazilian packer firms Margen and Mercosul.
The plants have capacity to slaughter 8,800 head of cattle a day, which would take Marfrig's overall slaughtering capacity to 22,350 head per day in Brazil and 30,150 head per day worldwide.
The company has slaughtering plants in Argentina and Uruguay as well as in Brazil, and industrialising units in the United States and Europe.
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