date:Apr 26, 2016
Brazilian poultry exporter BRF has entered into an agreement to acquire the remaining stake in Oman-based frozen food distributor Al Khan Foodstuff (AKF).
Currently, BRF owns 40% stake in AKF and the total acquisition is is estimated to have a valuation of $64m.
The move is part of BRF's processed foods business expansion plans in the Middle East and Asia. Through this acquisition, BRF intends to gain local market access in order to strengthen its brands and distribution networks.
AKF is a di