The deal, first reported by this site in December 2015, will help BRF reach local UK markets and grow its brand presence in the country, the firm claimed.
It will also help it improve both its service offering and presence in the “crucial UK market”, it added.
Sevenoaks-based Universal Meats has a turnover of more than £100M and manufactures chicken, duck, beef and tuna products.
Expand product portfolio
BRF’s chief financial officer Augusto Ribeiro said: “The transaction is in line with the strategic plan to globalise the company, accessing local markets, strengthening the brands of BRF, distributing and expanding its product portfolio around the world.”
The acquisition will also strengthen the company’s presence in Europe, where it already operates two factories in Holland and in the UK, he added.
It also maintains a joint venture for the distribution of food in the UK markets, Ireland and Scandinavia.
BRF is one of the largest food companies in the world by market capitalisation.
World markets
Almost half (43.8%) of BRF’s net sales come from markets outside of Brazil.
BRF in numbers
- 96,000 employees
- 35 industrial units in Brazil
- 120 export countries
- Nine plants abroad
- Six in Argentina
- One in UK
- One in Netherlands
- One in the United Arab Emirates
It has 35 factories across Brazil, six industrial units in Argentina, two in Europe and one in Abu Dhabi, UAE.
The Brazilian poultry processor is also eyeing acquisitions of Golden Foods Siam in Thailand and Eclipse Holding Cooperatief UA, the Dutch holding company for Campo Austral in Argentina as part of its ambition to see at least a quarter of its production take place outside of Brazil by 2020.
The three deals would build on a busy 24 months for BRF, which has seen the firm snap up 12 businesses worldwide.
BRF’s global ceo Pedro Faria said the deals are a milestone in its history and set a clear message that its expansion plans are serious.