French poultry processor in Brazil in talks to sell local subsidiary
Brazil’s meat giant JBS is the most likely buyer of a local subsidiary owned by a French poultry processor, according to news reports.
Montenegro, Brazil-based Doux appears to be nearing a pull-out from Brazil, which would leave its local subsidiary Doux Frangosul.
Reports say talks between the two companies are ongoing but that JBS is concerned about the Doux Frangosul’s debts — estimated at around R600 million (319 million dollars).
The company shuttered two poultry processing plants in the Brazilian state of Rio Grande do Sul, according to news reports. Marfrig is also rumoured to be in the running.
In 2009, Marfrig acquired Doux’s turkey operation in Caxias do Sul, Rio Grande do Sul for R65 million (34.5 million dollars).
Doux Frangosul offers various poultry and pork products and exports poultry products internationally. (Meat Trade News).-