Brazil’s Marfrig Acquires BRF in an All-Stock Deal

Brazilian beef processor Marfrig Global Foods S.A. (MRRTY) agreed on May 16, 2025, to acquire poultry and pork processor BRF S.A. (BRFS) in an all-stock deal valued at about $8.11 billion.

Deal Structure:

Under the terms of the agreement, BRF shareholders will receive 0.8521 Marfrig shares for each BRF share they own on the closing date, at a price of about $3.66 per ADS, representing a 1.39% premium from the stock’s last close.

Company Profile:

BRF S.A. is a global food company based in Brazil, producing and selling poultry, pork, processed foods, and ready-to-eat meals under brands like Sadia and Perdigão. It operates in over 120 countries, serving retail, food service, and institutional markets.

Marfrig is a Brazil-based food company, specializing in the production and export of beef and other animal-based proteins, with operations across the Americas and sales in around 100 countries.

In May 2021, Marfrig acquired nearly 25% of BRF’s shares, becoming its largest shareholder while stating it intended to remain a passive investor. Over time, Marfrig gradually increased its stake to the current 50.49%, gaining effective control of the company.

Deal Details and Timeline:

The merger will create a new entity, MBRF Global Foods Company S.A., which will also include Marfrig’s U.S.-based subsidiary, National Beef, a leading meat processor, as part of its integrated corporate structure.

The companies anticipate annual synergies of 805 million reais (approximately $142 million) from the merger, with 400 to 500 million reais expected to be realized within the first year. Shareholders are scheduled to vote on the proposal on June 18.

CFO Fabio Mariano stated that MBRF may contemplate moving its fiscal domicile and pursuing a New York Stock Exchange listing in the future.

Deal Metrics:

For an in-depth exploration of this merger and acquisition deal, visit the Deal Metrics page at:

Deal Metrics for the acquisition of BRF S.A. (BRFS) by Marfrig Global Foods S.A. (MRRTY)

The Deal Metrics page for each merger or acquisition includes:

• A chart depicting the spread history of the merger from the announcement to completion or failure.
• A timeline of key events including regulatory approvals, shareholder votes, and more.
• News and SEC filings related to the merger.
• A history of updates on the deal.
• And much more detailed information.

Disclaimer: This article is intended for informational purposes only. Please conduct your own due diligence before investing in any securities mentioned in this article. We do not guarantee the accuracy or completeness of the data or content provided.

Editor’s Note: Baranjot Kaur contributed to this article