Marfrig buys National Beef, becomes world’s 2nd largest beef processor
Brazil’s Marfrig Global Foods has reached an agreement to acquire 51 percent of National Beef Packing Company for $969 million, becoming the world’s second largest beef processor, the company announced in a statement early Monday.
In addition, Marfrig intends now to sell 100 percent of Keystone, a transaction which will further reduce its leverage to 2.5x by the end of 2018. Marfrig previously had the plan to launch the initial public offering of Keystone in the U.S.
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