Marfrig takes 24% stake in Brazilian food processing company BRF

Marfrig Global Foods has acquired a stake of 24.23% in rival Brazilian food processing company BRF for around $800 million, reported Reuters.

BRF is among the largest poultry companies in the world that is also into pork processing.

Marfrig Global Foods had acquired the stake by means of the auction of options and shares held on the stock exchange. The Brazilian food company said that the acquisition diversifies its investment in a segment that is complementary to its own activities.