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Brazilian food processor sells poultry company Avex for $50M

Brazilian packaged-food processor BRF SA said Dec. 19. that it has sold its Argentina-based poultry firm Avex SA for $50 million to two companies.

Argentina-based chicken products firm Granja Tres Arroyos SACAFI and Fribel SA are jointly acquiring the business. BRF did not specify a closing date, though it said the agreement is subject to customary closing conditions.

Avex produces chicken-based food and operates three Argentine plants, in Llavalol, Villa Mercedes and Rio Cuarto. The food retailer's unit has a slaughtering capacity of 160, 000 birds per day and a processing capacity of approximately 10,000 metric tons a month of products such as margarine, sauces and olive oil.

On Dec. 7, BRF agreed to sell its processed foods business Quickfood Sociedad Anonima to Marfrig Global Foods SA for $60 million.