Marfrig World Meals’ chairman Marcos Molina has been nominated to the similar function at BRF, the Brazilian meat peer wherein his corporate owns a 33% stake.
Molina, Marfrig’s controlling shareholder, was once appointed to the top of BRF’s board on Monday (28 March) and can exchange Pedro Pullen Parente, a spokesperson for BRF, showed to Simply Meals.
Marfrig, which reported gross sales for final yr of BRL85.3bn (US$17.8bn), is the distinguished shareholder of BRF with a 33.3% stake, a protecting the publicly-listed industry constructed up in 2021. On the time, Marfrig reaffirmed it “does now not intend to elect participants to the board of administrators or exert affect over BRF’s actions”.
Each corporations are indexed at the Bovespa Index in Brazil, with BRF, a manufacturer of hen and beef merchandise, positioned in Santa Catarina and Marfrig in Sao Paulo.
The 2 corporations had entered discussions in 2019 over a conceivable mixture however that by no means materialised. In 2020, Marfrig and any other Brazilian meat crew, Minerva Meals, each denied they’d opened merger talks. And in 2018, Marfrig greater its presence in the United States with the purchase of a 51% stake in Nationwide Red meat Packing Corporate.
In addition to Molina, a brand new slate of administrators has been added to the BRF board: Sergio Agapito Rial; Marcia Aparecida Pascoal Marçal dos Santos; Augusto Marques da Cruz Filho; Debora Stern Vieitas; Flavia Maria Bittencourt; Pedro de Camargo Neto; Altamir Batista Mateus da Silva; Eduardo Augusto Rocha Pocetti; and Aldo Luiz Mendes, subsidized by means of Marfrig and shareholder Caixa de Previdência dos Empregos do Banco do Brasil (Previ).
Marfrig generated a internet benefit final yr of BRL4.3bn and changed EBITDA of BRL14.5bn.
BRF, in the meantime, had gross sales of BRL48.3bn and changed EBITDA of BRL5.6bn. Web source of revenue was once BRL517m.
In combination, Marfrig and BRF nonetheless generate much less in revenues and benefit than peer JBS, which posted gross sales final yr of BRL350.7bn, adjusted EBITDA of BRL45.7bn and internet benefit of BRL20.5bn.
Comparable Corporations
