Brazil's largest food company Perdigão, has taken over its former rival, Sadia. The two companies, which together slaughter more than 2 bln chickens and other birds a year, will create the world’s biggest poultry processor by market value, overtaking Tyson Foods Inc. of the US.The new company is to be called BRF Brasil Foods SA, and co-chaired by Perdigão chairman, Nildemar Secches, and Sadia's Luiz Fernando Furlan.
Perdigão will change its name to BRF Brasil Foods SA and incorporate Sadia shares owned by HFF Participacoes SA, a holding company formed by investors who have more than 51 per cent of Sadia's voting stock, Perdigão recently confirmed in a statement to Brazil's securities regulator. The new company will also sell 4 billion reais (BRR; $1.94 billion) of shares.
Perdigão shareholders will have 68 per cent of the new company and Sadia's 32 per cent.
