SÃO PAULO — Minerva Foods announced on Oct. 28 the completion of its acquisition of Marfrig Global Food S.A. assets, expanding the South American company’s access to international markets such as North America, Europe, the Middle East and Asia.

The deal was first announced in August 2023, with plans to purchase 16 meat processing plants from Marfrig for 7.5 billion reais ($1.5 billion). However, regulators blocked three beef processing sites in Uruguay. Those locations are still included under the deal but are currently under review by the country’s competition authority, according to Minerva.

The current portion of the completed transaction includes 13 plants for the slaughter and deboning of sheep and cattle as well as a distribution center.

With the acquisition, Minerva will have the capacity to slaughter 22,336 head per day in 21 facilities in the Brazilian market. The company is also acquiring a beef processing plant in Argentina and a lamb processing plant in Chile, which will give Minerva the capacity to slaughter 5,978 head of cattle a day across six plants in Argentina, and 25,716 head of lamb a day across five plants in the Australian and Chilean markets.

Minerva noted that with the greater exposure to international markets, it is the leading supplier of beef to China, with the largest number of plants in the sector authorized to export to that country. The deal also strengthens Minerva’s position in the domestic market, making it the second largest beef producer in South America, the company said.

“For more than 30 years, we have built a strong track record in the animal protein market, creating connections between people, food, and nature,” said Fernando Queiroz, chief executive officer of Minerva Foods. “We are pleased to take another major step in our global positioning, and even more excited to strengthen our team with the new members who will join as a result of the integration of the new plants.”