Is BRF closer to selling its pet portfolio?
The Brazilian food giant has been receiving a number of bids since last year.
Some publications have recently suggested a substantial interest in BRF’s pet portfolio, with over 10 companies entering bids.
Nestlé has appeared as one of the companies that would be eager to buy the company’s pet business.
Bloomberg reported that the Swiss multinational placed a bid of BRL1.7 billion ($330M/€308M). Nestlé Brazil refused to comment on any developments after an inquiry by GlobalPETS.
Describing the sale transaction as an ongoing and “competitive process,” BRF says its objective is to obtain the most beneficial proposal for the company.
The company said that the divestiture of its pet portfolio is “following the procedures foreseen for a process of this size and with prospects of being completed in the coming months.” It is believed that BRF is hoping to sell its pet business for around BRL2 billion ($400M/€380M).
The Brazilian company has not specified what part of its pet portfolio is for sale. BRF acquired pet food brand Mogiana Alimentos and manufacturer Hercosul in 2021.
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