SÃO PAULO - Brazilian food processing company BRF on January 18 completed the $8 million acquisition of Joody Al Sharqiya Food Production through its wholly-owned subsidiary Badi Ltd. in the United Arab Emirates.
Joody is a food processing plant in Dammam in eastern Saudi Arabia, producing such items as hamburgers, breaded meat cuts and marinated chicken. BRF is set to invest $7.2 million to increase Joody’s installed capacity from some 3,600 to 18,000 tons a year.
“This operation strengthens our presence in a strategic market, and we have a clear long-term view regarding the production of added-value food items,” Carlos Moura, BRF Vice-President of Finances and Investor Relations, said in a statement.
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