SÃO PAULO, Brazil – Marfrig Global Foods S.A. and BRF S.A. reached an agreement that has Marfrig acquiring 91.89 percent of shares in QuickFood S.A., a beef-based processed food company in Argentina for $60 million.

Marfrig also agreed to acquire real estate and equipment from a BRF unit located in Várzea Grande in the Brazilian state of Mato Grosso for 100 million Brazilian reais; and a supply agreement commits Marfrig to providing BRF with finished food items such as hamburgers, meatballs, kibbehs and other items for 60 months.

In Argentina, QuickFood operates three plants located in San Jorge, Baradero and Arroyo Seco with slaughtering capacity of 620 head per day and a processing capacity of approximately 6,000 metric tons per month. The company produces hamburgers, franks, cold cuts and frozen vegetables.